Midland States Bank to Acquire Settlement Trust Business from Securant Bank
EFFINGHAM, ILLINOIS – February 21, 2013 – Midland States Bank has agreed to acquire Securant Bank’s Settlement Trust Group expanding its Wealth Management business line.
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, “We look forward to building upon the specialized settlement trust operations Securant has developed. We are impressed with the level of expertise and professionalism of Securant’s settlement trust team and we welcome them to our organization. An established presence in Milwaukee, a top 50 MSA , presents an expansive variety of opportunities for our company.”
Eric Chojnicki, President of Midland Wealth Management, said, “We are excited to add this specialized trust group to our team. This is a talented group of professionals that will compliment our team and allow us to expand our service offering throughout our footprint and beyond.”
Midland Wealth Management will approach $1 billion in assets under administration with the inclusion of the Settlement Trust acquisition. 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 Settlement Trust Group representative, please call 217-342-7303.
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.
Midland Wealth Management