Subsequent Events

6 Months Ended

Jun. 30, 2011

Subsequent Events

Subsequent Events

(18) Subsequent Events

On July 1, 2011, the Company announced the completion of its previously announced acquisition of Great Lakes Advisors, Inc. ("Great Lakes"), a Chicago-based investment manager with approximately $2.4 billion in assets under management. Great Lakes merged with Wintrust's existing asset management business, Wintrust Capital Management, LLC and operates as "Great Lakes Advisors, LLC, a Wintrust Wealth Management Company".

On July 8, 2011, the Company announced that its wholly-owned subsidiary bank, Northbrook, acquired certain assets and liabilities and the banking operations of First Chicago Bank & Trust ("First Chicago") in an FDIC-assisted transaction. First Chicago operated seven locations in Illinois: three in Chicago, one each in Bloomingdale, Itasca, Norridge and Park Ridge, and had approximately $959 million in total assets and $887 million in total deposits as of March 31, 2011. Northbrook acquired substantially all of First Chicago's assets at a discount of approximately 12% and assumed all of the non-brokered deposits at a premium of approximately 0.5%.

On July 26, 2011, the Company announced the signing of a definitive agreement to acquire Elgin State Bancorp, Inc. ("ESBI"). ESBI is the parent company of Elgin State Bank, which operates three banking locations in Elgin, Illinois. As of June 30, 2011, Elgin State Bank had approximately $277 million in assets and $249 million in deposits.