Old Second in Illinois to Buy Greater Chicago Financial

American Banker
Wednesday, January 10, 2018

Old Second Bancorp. A $2.4 billion-asset bank in Aurora, IL, has agreed to buy Greater Chicago Financial, the parent of $350.4 million-asset ABC Bank. The deal, which is expected to close in the second quarter, values Greater Chicago at 119% of its tangible book value. "ABC Bank's four offices and more than a century of service in the Chicago market are a great complement to our existing footprint," said James Eccher, Old Second's President and CEO.