Wednesday, December 5, 2018

Bridgeview Bank Rumored To Become First Midwest Bank (Updated)

Photo credit: Rick Baer 

According to Crain's, Bridgeview Bank might soon be First Midwest Bank.

In an article today, Crain's says:
"First Midwest Bancorp is in advanced discussions to acquire the parent of Bridgeview Bank Group, a deal that would strengthen suburban-oriented First Midwest in the city of Chicago.

A deal, if it's finalized, is likely to be announced within days, sources said.

Bridgeview Bank, best known perhaps by the striking 12-story terra cotta building in Uptown that dates back nearly a century, has nearly $1.3 billion in assets. It operates 14 branches, including some choice North Side locations in Edgewater, Lincoln Park and Lincoln Square, as well as Uptown."
Bridgeview has been a good neighbor in Uptown, putting multiple millions of dollars into a three-year restoration of the one-time Sheridan Trust & Savings Bank building at 4753 North Broadway.

We'll stay tuned and see what happens.

Update: Well, that didn't take long. On Thursday, December 6th, the acquisition was announced. Click here to read the press release.

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