Agreement Expands Banking Network and Enhances Services Available to Personal and Business Customers
Providence Bank & Trust and Leaders Bank announce merger. (Credit: Gerd Altmann from Pixabay.)
Providence Bank & Trust, along with The Leaders Bank, today announced that they have entered into a definitive merger agreement. Pending regulatory approval, Leaders Bank, with approximately $359 million in assets, will merge into Providence Bank & Trust, a stewardship-based bank with 15 locations throughout the Chicagoland area and Northwest Indiana. The acquisition will bring Providence Bank & Trust to approximately $1.69 billion in assets.
Locally owned and operated, Providence Bank & Trust opened in 2004 and maintains its mission and commitment to service and stewardship, with a belief that a bank can truly be more than a place to deposit money – offering meaningful financial products and services to meet the evolving needs of their diverse customers and communities. Committed to the neighborhoods they serve, they incorporated the Providence Bank & Trust Stewardship Program into their corporate principles when founded – promising that ten percent of the Bank’s profits will be donated to local civic, non-profit and Christian organizations.
Leaders Bank was founded in 2000 with the core vision of creating a local community bank where small businesses, their owners, employees, and other entrepreneurs were all treated as leaders. Over the past 21 years, Leaders Bank has remained committed to providing access to local leadership, dedicated team members and unsurpassed customer service, a pledge also shared by Providence Bank & Trust.
“Our investment in Leaders Bank reflects our ongoing commitment to providing personalized banking services and products at the community level,” said Steve Van Drunen, President and CEO of Providence Bank & Trust. “We’re confident that customers will have a positive banking experience, as we carry on the high level of service that they have grown accustomed to.”
“We’re pleased to have come to an agreement with Providence Bank & Trust, as joining forces will provide a stronger banking network and enhanced services for our customers,” said William Gleason, President of Leaders Bank. “Our customers will be greeted with the same focus on customer commitment that Leaders Bank customers have come to expect.”
Source: Company Press Release