Hometown Community Bancorp Inc., parent company of Morton Community Bank, said Monday it plans to acquire Illini Corporation, parent company of Springfield-based Illini Bank and Farmers State Bank of Camp Point.
The subsidiary banks will merge once the parent company merger completes.
“This merger expands the Hometown Community Banks brand into the markets of Springfield and Lincoln and adds to our presence in our Bloomington-Normal and western Illinois service areas,” Jim Mamer, co-CEO and president of Morton Community Bank, said. “Customers from both banks will benefit from having convenient access to locations throughout the central Illinois region.”
“We look forward to welcoming Illini Bank and Farmers State Bank of Camp Point employees and customers to the Hometown Community Banks’ family," Mamer said. "This acquisition will be a seamless transition for customers. People will see the familiar faces they are used to seeing. Working together, our employees will enhance the services we offer to our customers."
The acquisition is subject to shareholder and regulatory approval. The merger of subsidiary banks is anticipated to be in the fourth quarter.
“Our customers will continue to experience the same great service that they have come to expect from Illini Bank and Farmers State Bank of Camp Point," Greg Birky, president and CEO of Illini Corporation, said. "They’ll see substantial benefits from this combination of strong community banks. They will gain access to additional products and services, and the combined assets will substantially increase the available lending limit. Hometown Community Banks and the banks of Illini Corporation share the same commitment to support the communities they serve.”