MORTON, Ill. – A bank group based in Morton is acquiring a bank group based in Springfield.
Morton Community Bank will merge with Marine Bank in the second quarter of next year.
The total assets of the merged banks will come close to $6 billion when the transaction is done.
“We are excited about the can-do spirit of Marine Bank,” said Andy Honegger, President and Co-CEO of Morton Community Bank, in a news release. “We are looking forward to partnering with such a successful community bank, with talented and dedicated employees who will continue to serve their loyal customers.”
The holding companies of the two banks are also part of the deal, and is subject to regulatory and shareholder approval.
“The merger will be a new and exciting chapter for Marine Bank customers and employees,” said Chris Zettek, CEO, Marine Bank, in a news release. “We are looking forward to the opportunities that come with Morton’s employee-owned culture and entrepreneurial spirit. This partnership will allow us to continue to deliver to our customers the highest quality community bank experience possible”.
Morton Community Bank has nearly 500 employees and 45 branches throughout the region.
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