Old Second completes five-branch acquisition from First Merchants Bank

OLD SECOND BANCORP INC

Closed purchase of five Illinois branches from First Merchants Bank effective Dec 6, 2024.
Assumed ~$274.2M in deposits and purchased ~$7.5M in loans, plus other branch assets.
Acquired branches will open as Old Second on Monday, December 9, 2024.
CEO James Eccher said the deal adds meaningfully to the company's Southeast Chicago network.

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