Morton Community Bank to Merge with Heritage Bank of Central Illinois
Hometown Community Bancorp, Inc., parent company of Morton
Community Bank, today announced a merger with Trivoli Bancorp, Inc., parent
company of Heritage Bank of Central Illinois.
The subsidiary banks will be merged following the completion of the parent
company merger.
“This merger will bring together two community banks with a
long and proud history of serving our region,” said Jim Mamer, Co-CEO and President
of Morton Community Bank. “Customers
from both banks will benefit from having access to convenient locations
throughout the greater Peoria market and beyond,” said Mamer.
Scott Hedden, Chairman of Heritage Bank of Central Illinois,
noted that “We are pleased to be able to join forces with one of the premier
community banks in the entire state. Employees
at both banks have a track record of providing outstanding customer service and
being actively involved in the communities we serve.” Tim Krueger, CEO and
President of Heritage Bank said, “Our customers will gain access to additional
financial resources and the combined assets of the merged companies will
substantially increase the available lending limit.”
Mamer said the total assets of Morton Community Bank following
completion of the merger will be approximately $3.3 billion. “This merger will be a seamless transition
for customers. We look forward to
welcoming Heritage employees and customers to the Hometown Community Banks’
family. People will see the familiar
faces they are used to seeing. The
combined synergy of our employees will enhance the services we offer to our
customers,” said Mamer.
The merger is subject to regulatory approval and approval of
Trivoli Bancorp shareholders. Completion
of the parent company merger is anticipated in the second quarter of 2016, and
the merger of the subsidiary banks is expected to occur in the third quarter of
2016.
Morton Community Bank has more than 30 locations throughout
Central Illinois. Morton Community Bank offers
comprehensive banking services for both business and personal clients as well
as electronic and online banking services.
For more information, visit www.hometownbanks.com.
Founded in 1920, Heritage Bank of Central Illinois is a
locally-owned community bank with six branches located in Trivoli, Hanna City,
Peoria, Peoria Heights and East Peoria. The company offers a wide range of
business and personal financial solutions.
For more information, visit www.heritage-bnk.com.
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MORTON COMMUNITY BANK CONTACT: HERITAGE BANK OF CENTRAL ILLINOIS
CONTACT:
Jim Mamer Tim
Krueger
Co-CEO & President CEO & President
309-284-3890 309-681-3929
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