CHICAGO, Feb. 26, 2016 (GLOBE NEWSWIRE) -- MB Financial, Bank N.A. (“MB”), a wholly owned subsidiary of MB Financial, Inc., announced today an agreement to sell its branch in Seneca, Illinois to First National Bank of Dwight, a wholly owned subsidiary of First Dwight Corporation. Commenting on the agreement, Mark A. Hoppe, President and CEO of MB Financial Bank, said, “We have enjoyed serving the Seneca area for the past six years and are confident that our customers will continue to be well-served by First National Bank of Dwight.”
“We are delighted to acquire MB’s Seneca branch,” said Robert J. Maierhofer, President and CEO of First National Bank of Dwight. “We look forward to providing community banking services to the Seneca market and becoming an important part of this community.”
The transaction is subject to regulatory approval and certain closing conditions. The transaction is not expected to have a significant impact on MB Financial Bank’s earnings. The Seneca branch had approximately $11.2 million in total deposits at December 31, 2015.
MB Financial, Inc. (Nasdaq:MBFI) is the Chicago-based holding company for MB Financial Bank, N.A. which has approximately $15.6 billion in assets, 80 branch locations in the Chicagoland area and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success.
First Dwight Corporation is the holding company for First National Bank of Dwight and has been serving the Dwight community since 1906.
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