Rising taxes, declining population and the political landscape in Illinois have led several bankers to put more money and resources into nearby states.
The company agreed to buy MainSource Financial in Indiana for $1 billion, creating a Midwestern bank that will have more than 200 branches and $13 billion in assets.
The New Jersey bank is looking to raise offensive capital just months after its deal to be sold to Investors Bancorp was terminated. Investors was tripped up by regulatory concerns tied to Bank Secrecy Act and anti-money-laundering compliance.
Delmar will buy Liberty Bell Bank in New Jersey, which had survived a debilitating six-year battle for control with a former CEO. Liberty Bell also suffered from corporate theft and a check-kiting scandal.