Merger complete for Illinois Bank & Trust, Galena State Bank
Online Staff Report
Illinois Bank & Trust, with headquarters in Rockford, completes its merger Jan. 23 with Galena State Bank, one of its sister banks. Both banks are subsidiaries of Heartland Financial USA, Inc.
The combined banks will serve northwestern and west central Illinois from 11 locations throughout the region with assets of nearly $800 million.
This week, all four Galena State Bank locations in Galena, Elizabeth and Stockton, Illinois, changed their signage to the Illinois Bank & Trust brand.
Steve Ward, president and CEO of Illinois Bank & Trust, said: “As our clients travel through the northern Illinois region, they will now have the opportunity to bank in several cities and locations, offering convenience for our customers as we expand our footprint in the state. The merger will allow us to serve customers from the Rockford area south to the Sterling/Rock Falls region and now west to Elizabeth, Stockton and Galena. The merger and additional locations foster opportunities to further expand the bank’s presence in the state in the future.”
Since both banks are part of Heartland and have identical internal protocols, former Galena State Bank customers should experience little to no change in products or services, Ward added.
Posted Jan. 23, 2015