{"id":415327,"date":"2021-01-14T16:08:07","date_gmt":"2021-01-14T21:08:07","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=415327"},"modified":"2021-01-14T16:08:07","modified_gmt":"2021-01-14T21:08:07","slug":"greenwoods-to-acquire-three-branch-locations-of-town-bank","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/","title":{"rendered":"Greenwoods to Acquire Three Branch Locations of Town Bank"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">ROSEMONT, Ill., Jan.  14, 2021  (GLOBE NEWSWIRE) &#8212; Wintrust Financial Corporation (\u201cWintrust\u201d) (Nasdaq: WTFC) and Greenwoods Financial Group, Inc., the parent company of The Greenwood\u2019s State Bank (\u201cGreenwoods\u201d), today announced a signed branch purchase and assumption agreement for three southwestern Wisconsin branch locations of Wintrust\u2019s wholly-owned subsidiary Town Bank, N.A. The three branches subject to the transaction are located in Albany, Darlington and Monroe, Wisconsin. Through this transaction, subject to final adjustments, Greenwoods will assume approximately $80 million of deposits and acquire the bank facilities, and various other assets.<\/p>\n<p align=\"justify\">\u201cThis acquisition represents an opportunity for us to expand our presence in southern Wisconsin,\u201d said Bill McDonald, CEO of Greenwoods. \u201cWe look forward to building upon the franchise that Town Bank established at these locations and continuing to provide its customers with a full array of community banking products and services.\u201d<\/p>\n<p align=\"justify\">Jay C. Mack, President and CEO of Town Bank, said, \u201cThis transaction will allow us to focus our efforts on our primary markets. We feel that Greenwoods is a good buyer for these branch locations and will work hard, as we will, to ensure a smooth transition for our customers, colleagues and the local communities.\u201d<\/p>\n<p align=\"justify\">The terms of the transaction are not being disclosed at this time. The transaction is subject to approval by banking regulators and certain closing conditions. The transaction is expected to close in the second quarter of 2021 and is not expected to have a material effect on Wintrust\u2019s 2021 earnings per share.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>About Wintrust<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Wintrust is a financial holding company with assets of over $43 billion whose common stock is traded on the NASDAQ Global Select Market. Built on the &#8220;HAVE IT ALL&#8221; model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, with over 180 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units including business units which provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>About Greenwoods<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Greenwoods, founded in 1884, is headquartered in Lake Mills, Wisconsin, and is a state\u2011chartered non-member bank. Greenwoods currently has locations in Jefferson, Green, Rock, Racine, Walworth, and Waukesha Counties. Greenwoods is a high touch, community focused bank centered on its customers. Greenwoods has the technology products of a larger bank but delivers its products and services with a hometown community bank style. Greenwoods\u2019 experienced staff offers solutions to both personal and business banking needs. Greenwoods has local decision making and does its own loan underwriting, and its customers deal with bankers face to face. Greenwoods offers robust technology that allows its customers to access their accounts any time, day or night, both online or through its app on mobile devices, for business and personal banking products. Greenwoods partners with the local communities it serves, investing its assets through loans to its neighbors, friends, family, and local businesses.<\/p>\n<p align=\"center\">\n        <u>Forward-Looking Information<\/u>\n      <\/p>\n<p align=\"justify\">\n        <em>This press release contains forward-looking statements within the meaning of the federal securities laws relating to the acquisition of certain assets and assumption of certain liabilities of Town Bank, a subsidiary of Wintrust, by The Greenwood\u2019s State Bank, the combination of their businesses and projected revenue, as well as profitability and earnings outlook. Investors are cautioned that such statements are predictions and actual events or results may differ materially. Wintrust&#8217;s expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see &#8220;Risk Factors&#8221; and the forward-looking statement disclosures contained in Wintrust&#8217;s Annual Report on Form 10-K for the most recently ended fiscal year and any subsequent Quarterly Report on Form 10-Q. Forward-looking statements speak only as of the date made and Wintrust undertakes no duty to update the information.<\/em>\n      <\/p>\n<p align=\"start\">\n        <strong>FOR MORE INFORMATION CONTACT:<\/strong>\n      <\/p>\n<p align=\"start\">Edward J. Wehmer, Founder and CEO \u2013 Wintrust Financial Corporation, (847) 939-9000<br \/>David A. Dykstra, COO \u2013 Wintrust Financial Corporation, (847) 939-9000<br \/>Bill McDonald, CEO \u2013 The Greenwood\u2019s State Bank, (920) 648-2324<\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNjI4NSMzOTIwMjY4IzIwMDY2Njg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/68fc11ed-5e38-446c-851b-8b5bd66d5bbf\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>ROSEMONT, Ill., Jan. 14, 2021 (GLOBE NEWSWIRE) &#8212; Wintrust Financial Corporation (\u201cWintrust\u201d) (Nasdaq: WTFC) and Greenwoods Financial Group, Inc., the parent company of The Greenwood\u2019s State Bank (\u201cGreenwoods\u201d), today announced a signed branch purchase and assumption agreement for three southwestern Wisconsin branch locations of Wintrust\u2019s wholly-owned subsidiary Town Bank, N.A. The three branches subject to the transaction are located in Albany, Darlington and Monroe, Wisconsin. Through this transaction, subject to final adjustments, Greenwoods will assume approximately $80 million of deposits and acquire the bank facilities, and various other assets. \u201cThis acquisition represents an opportunity for us to expand our presence in southern Wisconsin,\u201d said Bill McDonald, CEO of Greenwoods. \u201cWe look forward to building upon the franchise that Town Bank &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Greenwoods to Acquire Three Branch Locations of Town Bank&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-415327","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Greenwoods to Acquire Three Branch Locations of Town Bank - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greenwoods to Acquire Three Branch Locations of Town Bank - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ROSEMONT, Ill., Jan. 14, 2021 (GLOBE NEWSWIRE) &#8212; Wintrust Financial Corporation (\u201cWintrust\u201d) (Nasdaq: WTFC) and Greenwoods Financial Group, Inc., the parent company of The Greenwood\u2019s State Bank (\u201cGreenwoods\u201d), today announced a signed branch purchase and assumption agreement for three southwestern Wisconsin branch locations of Wintrust\u2019s wholly-owned subsidiary Town Bank, N.A. The three branches subject to the transaction are located in Albany, Darlington and Monroe, Wisconsin. Through this transaction, subject to final adjustments, Greenwoods will assume approximately $80 million of deposits and acquire the bank facilities, and various other assets. \u201cThis acquisition represents an opportunity for us to expand our presence in southern Wisconsin,\u201d said Bill McDonald, CEO of Greenwoods. \u201cWe look forward to building upon the franchise that Town Bank &hellip; Continue reading &quot;Greenwoods to Acquire Three Branch Locations of Town Bank&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-14T21:08:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNjI4NSMzOTIwMjY4IzIwMDY2Njg=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenwoods-to-acquire-three-branch-locations-of-town-bank\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenwoods-to-acquire-three-branch-locations-of-town-bank\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Greenwoods to Acquire Three Branch Locations of Town Bank\",\"datePublished\":\"2021-01-14T21:08:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenwoods-to-acquire-three-branch-locations-of-town-bank\\\/\"},\"wordCount\":750,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenwoods-to-acquire-three-branch-locations-of-town-bank\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODEyNjI4NSMzOTIwMjY4IzIwMDY2Njg=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenwoods-to-acquire-three-branch-locations-of-town-bank\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/greenwoods-to-acquire-three-branch-locations-of-town-bank\\\/\",\"name\":\"Greenwoods to Acquire Three Branch Locations of Town Bank - 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The three branches subject to the transaction are located in Albany, Darlington and Monroe, Wisconsin. Through this transaction, subject to final adjustments, Greenwoods will assume approximately $80 million of deposits and acquire the bank facilities, and various other assets. \u201cThis acquisition represents an opportunity for us to expand our presence in southern Wisconsin,\u201d said Bill McDonald, CEO of Greenwoods. \u201cWe look forward to building upon the franchise that Town Bank &hellip; Continue reading \"Greenwoods to Acquire Three Branch Locations of Town Bank\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-14T21:08:07+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNjI4NSMzOTIwMjY4IzIwMDY2Njg=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Greenwoods to Acquire Three Branch Locations of Town Bank","datePublished":"2021-01-14T21:08:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/"},"wordCount":750,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNjI4NSMzOTIwMjY4IzIwMDY2Njg=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/greenwoods-to-acquire-three-branch-locations-of-town-bank\/","name":"Greenwoods to Acquire Three Branch Locations of Town Bank - 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