STC Capital Bank in St. Charles, Bank of Palatine Agree to Merger

St. Charles-based STC Capital Bank announced that it has signed a definitive agreement to merge with the Bank of Palatine.

The transaction is subject to the approval of bank stockholders, regulatory authorities and other customary conditions, STC Bank said in a release.

Formed in 2006, STC Capital Bank is a $160 million state-chartered bank with $22 million in capital, according to the release, which states STC serves Chicago’s western suburbs. The new combined bank will have about $210 million in assets.

“This consolidation will allow us to strengthen our reputation of providing outstanding personal service to local communities,” said Tony Sisto, STC chairman and chief executive officer. ”The Bank of Palatine has had a history of serving its’ local community and really cares about its clients. This fits perfectly with our philosophy of Service, Trust and Commitment that the STC in our name stands for.”

“Our customers will continue to see many of the same familiar faces in the bank as before but will also see a greatly expanded selection of deposit and loan products to serve today’s financial needs,” said Winn Davidson, president and chief executive officer of Bank of Palatine. “It has been our pleasure serving Bank of Palatine’s customers for almost 40 years, and Bank of Palatine will continue serving its customers as part of STC Capital Bank. On behalf of the board of directors, myself and the entire staff of the Bank of Palatine, we thank ourcustomers for their loyalty and confidence through the years.”

For more information regarding STC Capital Bank, please call (630) 377-1555 or got to the website for STC Capital Bank. STC Capital Bank is a wholly owned subsidiary of STC Bancshares, Corp., and is an Equal Housing Lender and member of the FDIC.