Midland States Bancorp, Inc. Acquires First National Bank of Grant Park
EFFINGHAM, ILLINOIS – June 5, 2013 – Midland States Bancorp, Inc. has closed on its acquisition of First National Bank of Grant Park, which has branch locations in Grant Park, Beecher and Bourbonnais, Illinois. Midland States Bancorp, Inc. is the holding company of Midland States Bank, which has assets of approximately $1.6 billion and is headquartered in Effingham, Illinois.
Leon J. Holschbach, President and Chief Executive Officer of Midland, said, “This acquisition, which is our sixth bank acquisition and our eighth financial services acquisition in the past six years, brings another long-standing, well run community bank into the Midland family. We are proud to have the opportunity to serve the Grant Park, Beecher and Bourbonnais communities, and to expand our footprint in our Northern Illinois region.”
Holschbach added, “Midland has over 130 years of experience providing excellent and community focused service, and I am fully confident former First National Bank customers will enjoy the same excellent level of service and will experience a seamless transition to the Midland banking platform.”
In addition to providing enhanced banking products for personal and business clients, Midland also offers wealth management, 401(k) administration and other financial services under its Wealth Management Group, which has assets under administration of more than $1 billion. Midland also offers merchants and other businesses credit card processing services through its Merchant Services Group, providing an alternative to the high cost of accepting credit and debit cards many of these businesses face.
Dan Stevenson, Midland’s Eastern Illinois Regional Market President, said,“Midland has significant experience integrating new banks into our banking platform. First National Bank customers will be able to bank as they always have, and will be receiving Welcome packets and other Midland materials in the mail over the next few days and in the coming weeks. The transition of accounts to the Midland banking platform will take place later this month, but there will be no disruption of banking services to our new customers.”
About Midland States Bancorp, Inc.
Midland States Bancorp, Inc. is a community-based bank holding company headquartered in Effingham, Illinois, and is the sole shareholder of its subsidiary, Midland States Bank. Midland States Bank has assets of approximately $1.6 billion and a Wealth Management group with assets under administration of over $1.0 billion. Established in 1881, Midland States Bank remains a locally owned and operated community bank, providing a full range of commercial and consumer banking products, trust and investment management, insurance, and financial planning services. For additional information, visit http://www.midlandsb.com.
Douglas J. Tucker
Sr. V.P., Corporate Counsel and
Director of Investor Relations