Carmi-based First Bank announced today that it has successfully completed its acquisition of Lawrenceville, Ill.-based Heritage State Bank.
Three former branches of Heritage State Bank in Lawrenceville and Haubstadt and Vincennes in Indiana are now offices of First Bank.
This acquisition grows First Bank to $611 million in assets and now 12 branches throughout a newly expanded footprint in southeast Illinois and southwest Indiana.
“We are delighted to extend added convenience, new technologies and expanded business services to even more agricultural communities, businesses and families,” says Alvin Fritschle, First Bank’s Chairman & CEO. “This acquisition represents an important milestone in the growth and diversification of our bank, benefiting both legacy and new clients.
Nikki Roser, President of First Bank, added, “Our team is excited to welcome our new associates to continue delivering tailored solutions to clients focused on partnerships and success. Committed to ensuring this transition was a smooth one for Heritage State Bank clients, any changes that impacted them were communicated well in advance.”