ROSEMONT, Ill., Feb. 15, 2017 (GLOBE NEWSWIRE) -- Wintrust Mortgage, a division of Barrington Bank & Trust Company,
N.A. announced that it acquired certain assets and assumed certain liabilities of the mortgage banking business of American
Homestead Mortgage, LLC (“AHM”), a Montana Limited Liability Company.
With more than 190 locations throughout the United States, Wintrust Mortgage now expands its existing market
presence within Northern Montana, particularly in Flathead County and surrounding areas.
Since inception in 1993, AHM has become one of the leading home mortgage lenders in Montana’s Flathead
Valley. And, its mission has always been to make owning a home in the Big Sky country a dream come true.
“We’ve been deeply rooted in and committed to Montana,” said AHM Managing Member Mark Delorme Sr. “We focus on
helping to improve the lives of our clients and strengthening our communities here through homeownership.”
Last year, AHM’s employees originated nearly $55 million in loan volume and all of their employees will transition
to Wintrust Mortgage.
“We’re excited to partner with a successful organization that’s compatible with our own,” said Wintrust Mortgage
President & CEO David Hrobon. “AHM complements our own customer-centric philosophies and family-oriented corporate culture. This
acquisition was a great opportunity to combine resources to help better serve the communities we support.”
Terms of the Transaction
The terms of the transaction are not being disclosed by the parties; however, a significant portion of the purchase
price for the AHM assets is conditioned upon future profitability. The transaction is not expected to have a material
effect on Wintrust’s 2017 earnings.
About Wintrust Mortgage
Wintrust Mortgage was created to assist in the realization of the American dream of homeownership. The company’s
large volume and ability to lend in all 50 states make it one of the largest mortgage bankers in the country. In 2016 alone,
Wintrust Mortgage originated nearly $5 billion in loans. The company has more than 190 locations across the country. Wintrust
Mortgage is a division of Barrington Bank & Trust Company, N.A., NMLS# 449042, Member FDIC, a Wintrust Community Bank, and is part
of Wintrust Financial Corporation (“Wintrust”) a diverse financial holding company with assets of approximately $25 billion whose
common stock is traded on the NASDAQ Global Select Market. Wintrust Mortgage is an Equal Housing Lender. For more information,
visit the company website at www.WintrustMortgage.com.
Forward-Looking Information
This press release contains forward-looking statements within the meaning of the federal securities laws.
Wintrust's expected financial results or other plans are subject to a number of risks and uncertainties. Investors are
cautioned that such statements are predictions and actual events or results may differ materially. For a discussion of such risks
and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk
Factors" and the forward-looking statement disclosure contained in Wintrust's Annual Report on Form 10-K for the most recently
ended fiscal year and in Wintrust's subsequent Quarterly Report on Form 10-Q. Forward-looking statements speak only as of the date
made and Wintrust undertakes no duty to update the information.
For more information contact: David Hrobon President & CEO | Wintrust Mortgage 847-939-9360 dhrobon@wintrustmortgage.com
