Old Second Bancorp has agreed to acquire Bancorp Financial, the parent company of Evergreen Bank Group, in a cash-and-stock transaction valued at approximately $197 million.

Aurora-based Old Second Bank will acquire Oak Brook-based Evergreen Bank in a deal that will create the second-largest community bank in the Chicago area. The deal, which is expected to close in the third quarter of 2025, will give Old Second $1.45 billion in assets and three bank branches in Cook and DuPage counties.

“Bancorp Financial and its wholly owned subsidiary, Evergreen Bank Group, are thrilled to announce the merger with Old Second, a move that is expected to create a stronger banking institution for our customers and communities of nearly 18 years,” said Darin Campbell, Chairman of Bancorp Financial. In August, Old Second acquired five Chicago-area branches from Indiana-based First Merchants Bank.

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