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First Midwest to buy Banco Popular's Chicago business

from Crain's Chicago Business

Banco Popular North America is exiting Chicago with the sale of its retail bank here to First Midwest Bancorp Inc. and the planned shutdown of its U.S. headquarters in Rosemont. First Midwest announced that it is paying a 2.5 percent deposit premium for about $750 million in deposits and another $525 million in loans housed in 12 branches of Popular Community Bank, the mainland retail arm of Puerto Rico's largest bank, Popular Inc. That translates into roughly $18 million. more

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