The transaction added banking locations in Paxton, Melvin, and Piper City to the footprint of Bank of Pontiac, which presently has 11 locations throughout the counties of Livingston, McLean, Tazewell, and Grund
Bank of Pontiac Acquires Branches of Farmers-Merchants Bank of Illinois. (Credit: Rock Staar on Unsplash)
The previously-announced acquisition of three branch locations of Farmers-
Merchants Bank of Illinois by Bank of Pontiac closed on January 26, 2024.
The transaction added banking locations in Paxton, Melvin, and Piper City to the footprint of Bank of Pontiac, which presently has 11 locations throughout the counties of Livingston, McLean, Tazewell, and Grundy.
Total assets of Bank of Pontiac increased to approximately $1.16 billion as a result of the transaction. Bank of Pontiac has been in existence since 1947 with a strong commitment to community banking.
“We’re very excited to add these communities to Bank of Pontiac,” said Mark Donovan, President and CEO of Bank of Pontiac. “We are dedicated to community involvement and exceptional customer service.”
Customers in Paxton, Melvin, and Piper City will continue to be greeted and assisted by the familiar faces of Farmers-Merchants Bank of Illinois staff. All locations will be open for business on January 29, 2024.
Donovan added, “Our officers and employees look forward to providing financial services and supporting our communities as Bank of Pontiac continues to grow and expand.”
Source: Company Press Release