Wintrust Acquires PMP’s Mortgage Banking Assets

Wintrust Financial Corp. has acquired certain assets and the assumption of certain liabilities of the mortgage banking business of Professional Mortgage Partners (PMP) of Downers Grove, Ill.

The terms of this cash transaction have not been disclosed by the parties. Wintrust, however, says that a significant portion of the purchase price for the PMP assets is conditioned upon certain future profitability measures. The transaction is not expected to have a material effect on Wintrust's 2008 or 2009 earnings per share.

SOURCE: Wintrust


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