Firstrust Bank announced today it will acquire MB Financial Bank’s sole Philadelphia office located at 7918 Bustleton Avenue.

The transaction has received regulatory approval and is expected to be completed by the end of the first quarter.  The transaction will result in a transfer of approximately $40MM in deposits. MB Financial Bank acquired the branch in 2004 from another Chicago-based financial organization, First Security Bank. The office will remain open for business throughout the transition and will continue to offer all products and services to customers.  

“We are very excited to acquire this branch and welcome MB Financial customers to Firstrust,” said Richard J. Green, Chairman and CEO of Firstrust Bank. “Firstrust has been in this local community for many years. With this acquisition, we look forward to continuing to invest in Northeast Philadelphia,” he said. 

Built in the 1970’s, the branch contains 7,560 sq. ft. with one ATM, one drive-through lane and ample parking.