Overview
The BFKN Financial Institutions Group served as legal counsel to Inland Bancorp, Inc. and its wholly-owned subsidiary, Inland Bank, in its entry into a merger agreement with Byline Bancorp, Inc. pursuant to which the two companies will combine in a cash and stock transaction valued at approximately $165 million.
“The foundation of Inland Bancorp, Inc. was built upon offering products and services that meet our customers’ financial needs and delivering an exceptional customer experience that is supported by a diverse and experienced team. By joining forces with Byline, we recognize the opportunity to align with a partner that shares our passion for providing high-quality customer service," Peter Stickler, President and Chief Executive Officer of Inland Bank and Trust, said in a statement.
After closing, which is expected to occur in the second quarter of 2023, the combined organization will have approximately $8.5 billion in assets, $6.2 billion in loans and $6.6 billion in deposits, with 47 branches across the greater Chicago metropolitan area.
BFKN’s legal team was led by Financial Institutions Group co-chair Robert M. Fleetwood, partners Abdul R. Mitha, Brent McCauley and associates Neil R. Patel and Zoe Xiuha Uvin. Executive compensation & benefits were handled by partner Andrew K. Strimaitis and associate Alex Freund. Labor & employment considerations were handled by associate Corwin J. Carr. Tax considerations of the transaction were handled by partner Michael J. Towne and associate Megan E. Toal.
To read more about this announced merger transaction, visit: