HOLLAND, Mich. / ROSEMONT — Macatawa Bank announced it has merged with Wintrust, an Illinois-based holding company.
The company says its board entered the agreement after ensuring Macatawa would maintain its focus on serving the community, noting Wintrust’s success in the community sphere around the country.
Macatawa says the merger will make them more competitive in the face of a constantly evolving industry and expand to new markets.
We’re told the new partnership will also streamline operations and offer more services.
“This transaction brings together two companies that share a core community banking philosophy. Wintrust’s track record of serving families, individuals and businesses with exemplary products and services make it an attractive partner,” says Macatawa President & CEO Jon W. Swets. “[This partnership] allows us to continue focusing on serving our customers and growing our presence by providing our customers with access to a wider range of products, services and resources. We see many advantages for our customers and shareholders, and we look forward to joining the Wintrust family.”
Wintrust possesses $56 billion worth of assets and has a track record of upholding profits for 27 years straight, Macatawa adds. They operate more than 175 branches in Milwaukee, Chicago, Indiana and Florida. They were rated number one for banking customer satisfaction by J.D. power for three years straight.
Customers aren’t expected to notice any changes until Q1 2025 when deposit systems are converted. Macatawa says services and information on the conversion will be made available beforehand. The bank’s name will not change as a result of the merger.
Once the conversion is finished, Macatawa says customers will be able to use Wintrust’s ATMs throughout the U.S.
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