Getting your Trinity Audio player ready...
Suburban bank consolidation: First Midwest Bancorp Inc., Itasca, said it would acquire Heritage Financial Services Inc., Tinley Park, for $411 million worth of stock, adding to its suburban Chicago market share. The deal would create a holding company with market capitalization of more than $1.3 billion and assets of $5 billion. Under a definitive agreement, structured as a tax-free share exchange and accounted for as a pooling of interests, shareholders of Heritage would receive 0.7695 share of First Midwest for each share of Heritage.
