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Lisle company GreatBanc Trust to acquire North Star Trust

Published: Monday, March 3, 2014 1:22 p.m. CDT

LISLE – GreatBanc Trust Company, 801 Warrenville Road, Suite 500, announced Feb. 25 it has entered into a definitive agreement to acquire North Star Trust Company, which will create one of the largest single trustee and other fiduciary service providers for companies with employee stock ownership plans, according to a GreatBanc news release.

Previously, GreatBanc has acquired comparable business from HSBC Bank USA and the former LaSalle Bank NA.

The team that currently supports North Star clients will integrate into GreatBanc, said GreatBanc President and CEO James E. Staruck in the release.

The deal, which is currently pending, is expected to close the second quarter of 2014.

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