Illinois trust companies merge

Midland States Bancorp, Inc., Effingham, Ill., announced its acquisition of ATG Trust Company, Chicago. The deal brings Midland’s wealth management group to $4.1 billion in assets under management and 90 employees.

“ATG Trust clients have experienced a highly competent trust team throughout its 22-year history,” said Heath Sorenson, chief operating officer of Midland Wealth Management and president of Midland Trust Company. “We look forward to continuing to serve ATG’s clients with Kathy Van Eeuwen and her team.”

Originally founded as a subsidiary of Attorneys’ Title Guaranty Fund, Inc., in 1988, the ATG Trust Company was an independent trust company that offered estate administration. Midland Trust Company offers traditional trust and real estate administrative services, specializing in court-supervised guardianships and conservatorships for minors and those with disabilities, and for those receiving proceeds from personal injury or wrongful death lawsuits. 

“We are glad to have found knowledgeable, empathetic trust specialists to join our group and expand our presence in Chicago,” Sorenson said.

The $6.9 billion Midland States has offices in Illinois and Missouri.