Legence Bank Signs Agreement with MidCountry Bank to Purchase their southern Illinois Branches (Benton, Carbondale, Johnston City, Marion Heights, Marion West, Metropolis, Mounds, and Mt. Vernon)
Eldorado, IL--Legence Bank, a wholly-owned subsidiary of the holding company First Eldorado Bancshares, Inc. in Eldorado, IL, signed an agreement, on February 21, 2017, to purchase eight southern Illinois bank branches from Bloomington, MN based MidCountry Bank for an undisclosed sum, pending customary regulatory approval. The branches, located in Benton, Carbondale, Johnston City, Marion Heights, Marion West, Metropolis, Mounds, and Mt. Vernon, have approximately $146 million in deposits. The acquisition and conversion are expected to be complete in the third quarter of 2017, and will bring Legence Bank’s assets to approximately $450 million with a total of 15 branches.