Wintrust Financial Acquires Mortgage Banking Assets Of Surety Financial Services

(RTTNews) - Wintrust Financial Corp. (WTFC) announced that its subsidiary, Barrington Bank &Trust Company, N.A. through its division Wintrust Mortgage, acquired certain assets and assumed certain liabilities of the mortgage banking business of Surety Financial Services of Sherman Oaks, California.

The terms of the transaction are not being disclosed by the parties; however, a significant portion of the purchase price for the Surety assets is conditioned upon future profitability. The transaction is not expected to have a material effect on Wintrust's 2013 earnings.

Surety has served southern California with an extensive portfolio of residential real estate loan programs since its founding in January 1994. Working closely with real estate agents, relocation companies, builders, accountants, human resource professionals, business managers and attorneys, Surety's loan origination team delivers quality financing products for the diverse needs of the southern California housing market.