Mount Pulaski, Ill.-based Longview Community Bank is buying Bank of Chestnut.
Both banks are based in central Illinois. Longview has a single branch and $68 million in assets. The $20 million Bank of Chestnut also has a single branch and six full-time employees.
The deal is expected to close this spring. A purchase price was not announced.
Longview Community Bank was created after bank holding company Longview Capital Corp., acquired The Farmers Bank of Mt. Pulaski last year. The agreement expanded Longview Capital’s branch footprint to Mt. Pulaski and increased the company’s asset base to approximately $731 million and 13 branches.
Longview Capital has three other Illinois banking subsidiaries: Longview Bank, Ogden; Bank of Gibson City and Longview Bank & Trust, Chapman.