First Midwest Bank, a wholly owned subsidiary of First Midwest Bancorp, Inc. (FMBI: Quote), said Friday that it has acquired the deposits and loans of Waukegan Savings Bank, Waukegan, Illinois in a transaction facilitated by the Federal Deposit Insurance Corporation.
First Midwest Bank noted that the branches of Waukegan Savings Bank located at 1324 Golf Road, Waukegan, Illinois, 60087 and 1075 N. Green Bay Road, Waukegan, Illinois, 60085, will re-open on August 4 under the First Midwest Bank name with normal branch hours.
The customers of the acquired Waukegan Savings Bank can continue to access their accounts as usual through ATMs, checks and debit cards. The entire network of First Midwest Bank branches will be available to Waukegan Savings Bank customers following the necessary conversion of bank operating systems which is expected to occur before the end of the year.
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by RTT Staff Writer
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