Midland States Bank Acquires Settlement Trust Business from Securant Bank
EFFINGHAM, ILLINOIS – March 1, 2013 – Midland States Bank has completed the acquisition of Securant Bank’s Settlement Trust Group. The acquisition further expands the client services offered by Midland’s Wealth Management business.
The Settlement Trust Group, based in the Milwaukee area, specializes in providing trust administration to clients receiving litigation settlements. The business currently serves a wide range of clients across the United States.
Leon Holschbach, Midland States Bank President and CEO, said, “This acquisition continues what has been a five year track record of significant growth, both for our Bank and for our Wealth Management Group. Our strategic plan calls for identifying leading professionals in specific areas and bringing them into the Midland family. We are very pleased to have this group join us and we look forward to growing the number of clients we can serve in this area.”
Eric Chojnicki, President of Midland Wealth Management, said, “This is an area that fits in very well with our existing wealth management business, and the addition of this team is an exciting step in our growth. We now have a total of 31 wealth management and trust professionals, and the breadth and scope of our wealth management business continues to expand.”
Midland Wealth Management will approach $1 billion in assets under administration after the transfer of all of the Settlement Trust accounts from Securant. In addition to Settlement Trust administration, Midland Wealth Management offers Financial Planning, Retirement Planning, Investment Management, Trust and Estate Services and Brokerage Services through its Wealth Management group.
To learn more or to talk with a Midland Wealth Management representative, please call 217-342-7302.
About Midland States Bank
Midland States Bank is a 132 year old community bank offering a full range of banking services and has assets of approximately $1.5 billion. The Bank has been providing trust and wealth management services for more than 93 years and has over $950 million in assets under administration, representing more than 3,000 client relationships, including $200 million in employer sponsored plans with approximately 3,500 employee retirement plan participants. For additional information, visit http://www.midlandsb.com.
Contact:
Eric Chojnicki
President
Midland Wealth Management
217-342-7303