Monmouth bank merger complete
Monmouth, IL, – Western Illinois Bancshares, Inc., the holding company of Midwest Bank, has announced a completed merger with Andalusia Community Bank.
In a press release Chris Gavin, President, and CEO of Midwest Bank, stated:
“Our team is very excited about Andalusia Community Bank becoming part of our bank. As we have been working to bring this together, it became apparent early on that we are a great fit for each other and the transition has been very smooth. We believe this bodes well for our plans to grow our presence it the Quad City market.”
Mike Bell, CEO of Andalusia Community Bank, added:
“We’re very proud of our history and we’re equally excited for the future by joining the Midwest Bank family. The real winners in this transaction are the community and our clients as they will continue to be valued and serviced by local community bankers who have their best interests at heart.”
According to the release, through the partnership, Midwest Bank and Andalusia Community Bank plan to:
- Expand Midwest Bank’s physical presence to the Quad City area.
- Offer a broader range of products and services to Andalusia’s customers through Midwest Bank’s Trust, Wealth Management and Insurance Services.
- Enhance electronic banking and card services, as well as provide in-house data processing and a service center.
Midwest Bank has continued as the surviving bank with Chris Gavin remaining as President and CEO and Mike Bell continuing in a leadership position as Quad City Area V.P. and Market President of the combined company.
The release finishes by saying:
“Midwest Bank, formerly the National Bank of Monmouth, was established on September 9, 1870. The bank currently has 7 banking locations in 4 counties, 3 insurance offices, and loan origination offices in Peoria and the Quad Cities. Andalusia Community Bank, established in 1979, maintains offices in Andalusia and Moline with deposit and loan relationships in the Quad Cities and surrounding area.”