Two southern Illinois-based banks are merging in the fourth quarter of this year.
First Waterloo Bancshares, Inc., announced June 9 that it is acquiring the outstanding shares of common stock of Village Bancshares, Inc., St. Libory. As of March 31, First National Bank of Waterloo had approximately $803 million in assets. The bank has 13 offices in central and southern Illinois. The Village Bank has nearly $116 million in assets and three offices.
First National Bank of Waterloo President Rick Parks called both organizations “relationship-focused community banks that have rich histories, compatible cultures and shared commitment to helping our clients achieve financial success.
“We believe that we are stronger together and can better serve the needs of our customers and our communities through this merger,” he added. “We also believe that The Village Bank customers will benefit greatly from the expanded products and resources First National Bank is able to bring to the table.”
Bryan Cave Leighton Paisner LLP, St. Louis, served as legal counsel to First Waterloo Bancshares. St. Louis-based Armstrong Teasdale LLP served as legal counsel to Village Bancshares.