Old Second Bancorp, Inc. (OSBC) signed an agreement with First Merchants Corp. to acquire five Illinois branches alongside certain branch-specific loans and deposits. These branches are located in Southeast Chicago MSA. Details of the Acquisition by Old Second Bancorp OSBC will pay a total cash consideration of roughly $23 million, equivalent to a 7.5% deposit premium to First Merchants. The company expects to assume roughly $304 million in deposits and almost $12 million in loans associated with these bran ...