Illinois-based Fisher State Bank will acquire Catlin Bank early next year.
The merger was announced on Oct. 11. By buying the $84 million Catlin Bank, the currently $208 million, three-branch Fisher, Ill.-based bank will grow to approximately $293 million in assets and expand its footprint in east central Illinois.
Fisher National Bank’s current CEO, Ryan Heiser, will continue in that role. The current president of Catlin Bank, Jeff Fauver, will be the Catlin, Ill., community president and a board member for Fisher National Bank. Shanna Fisher will continue as vice president of lending.
“Our companies share similar values, and our partnership will reinforce the foundation for an extraordinary community bank that puts our customers, employees and communities first. We look forward to entering a new market that is a logical extension of our existing operations,” said Fisher National Chair Mike Estes.
Olsen Palmer LLC, Washington, D.C., served as financial adviser to Catlin Bank while Godfrey & Kahn, S.C., Milwaukee, served as legal adviser. Brown, Hay & Stephens LLP, Springfield, Ill., served as legal adviser to Fisher Bancorp, Inc.