Subsequent Events

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On February 20, 2019, the Company announced the signing of a definitive agreement to acquire Rush-Oak Corporation (“ROC”). ROC is the parent company of Oak Bank, which operates a banking location in the Gold Coast neighborhood of Chicago, Illinois. As of December 31, 2018, Oak Bank had approximately $196 million in assets, approximately $143 million in loans and approximately $158 million in deposits.

On February 15, 2019, the Receivables Purchase Agreement with an unrelated third party was amended to extend the maturity date from December 16, 2019 to December 15, 2020. Additionally, at that time, the unrelated third party paid an additional C$20 million under the Receivables Purchase Agreement, which increased the total payments to C$210 million. For additional discussion of the Receivables Purchase Agreement, see Note 13 - Other Borrowings.