Wintrust Financial Corporation announced that its subsidiary Lake Forest Bank and Trust Company has completed its previously announced acquisition of select loans and related relationships from GE Capital Franchise Finance. The loans totaled $554 million at close, down from the previously announced $581 million due to amortization and additional principal payments related to normal course of business activity. The loans are to franchise operators (primarily quick service restaurant concepts) in the Midwest and in the Western portion of the United States.

Wintrust Franchise Finance exclusively serves the needs of franchise operators and franchisors. It has been in existence for 15 years and currently serves more than 100 clients nationwide.

Edward J. Wehmer, President and CEO of Wintrust said, "We are pleased to close this transaction to add not only the loans, but to add a large number of meaningful relationships to our existing franchise finance business. This is a business we know well and we look forward to growing these relationships."

GE announced a plan in April 2015 to focus on its high-value industrial businesses and sell most GE Capital assets not linked to GE's core industrial businesses.

As previously announced, this transaction is expected to be slightly accretive to Wintrust's 2016 earnings per share and accretive in 2017.