Wintrust Financial Corp., Lake Forest, Ill., said it has purchased "certain" assets and liabilities of mortgage banking firm Woodfield Planning Corp. of Rolling Meadows for an undisclosed sum.
A nonbank mortgage originator with three offices, Woodfield funded roughly $180 million of residential loans last year. The firm was founded in 1982.
Wintrust, a publicly traded bank with a market capitalization rate of about $1.2 billion, did not return telephone calls about the deal.
In a statement, the company said certain executives will be joining the Wintrust Mortgage division, including Woodfield founder and president Jim Dodd. Dodd will carry the title of senior vice president of Wintrust Mortgage.
The bank said the purchase will not affect its earnings.
