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First Bank & Trust (FB&T) was a community and commercial bank founded in Evanston, Illinois that was legally acquired by Chicago's Byline Bank [1] in 2018. FB&T was originally founded in 1995 by Robert Yohanan, Howard Kain and James Lytle.
First Bank & Trust, headquartered in Evanston, Illinois and serving the Chicago area; First Bank System, a Minneapolis, Minnesota-based regional bank holding company that had used the trade name First Bank before the holding company was renamed U.S. Bancorp in 1997; First International Bank, in Watford City, North Dakota
In early April, both Bank Corporations' shareholders approved the merger. [6] On April 12, 2013, FirstMerit Corporation closed the acquisition of company which will operate as of April 13 as "Citizens Bank, now part of FirstMerit Bank." [7] The banks owned by Citizens Republic Bancorp were officially renamed FirstMerit Bank on June 13, 2013. [8]
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First Bank and Trust's parent company, First Trust Corporation, also holds affiliated subsidiaries FBT Investments, [3] FBT Advisors and First Insurance Agency. First Bank and Trust is state chartered and Federal Deposit Insurance Corporation -insured with approximately $1 billion in assets as of March 30, 2020.
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The FDIC and First Midwest Bank entered into a loss-share transaction on $343.8 million of Palos Bank and Trust Company's assets. [9] First Midwest Bank assumed Waukegan Savings Bank's $77 million in deposits and $89 million in assets following its closure by the FDIC. The two Waukegan branches will open as First Midwest locations. [10]
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