Alta Group advises on Baytree National Bank & Trust Co deal

The Alta Group has announced it acted for Baytree National Bank & Trust Co. in the sale of its equipment leasing and financing assets and business to North Community Bank, a subsidiary of Chicago-based Metropolitan Bank Group.

Alta initiated the transaction and served as exclusive financial advisor to Baytree National Bank & Trust Co., which is headquartered in Lake Forest, Illinois
North Community Bank has approximately $2.4 billion in assets and 91 branch locations in the Chicago metropolitan area. It is a full service commercial bank offering an array of banking products and services to retail and business customers.

A spokesman for the acquired leasing business, which operates under the name Baytree Financial Group, stated that the leasing team will continue its business as a part of North Community Bank and offer specialized finance and leasing programs in areas such as healthcare and medical equipment, information technology solutions, industrial equipment, veterinary equipment and office automation products.

Bruce Kropschot, senior managing director and leader of Alta’s merger & acquisition advisory practice, said: “It was gratifying to satisfy our client’s sale objectives and find an excellent home for the top-quality Baytree leasing team.”