City and Nation Financial institution/Peoples Prosperity Financial institution is merging with Bloomington-based Heartland Financial institution and Belief Co. efficient Wednesday.
Springfield-based City and Nation Financial institution has a department in Edwardsville and White Corridor.
Every firm’s board of administrators has permitted the deal. The financial institution would tackle the Heartland title, with HBT Monetary, the holding firm of Heartland Financial institution, proudly owning about 90% of the merged firm.
In a letter to prospects, Micah Bartlett, City and Nation’s president and CEO, mentioned the banks have like-minded missions and values, with a robust dedication to the communities they serve.
“We’re excited to accomplice with considered one of Illinois’ highest-performing banking organizations to create much more alternatives for our staff and prospects,” Bartlett mentioned in a information launch. “There are important alternatives and challenges forward within the banking enterprise, and the mixture of those two robust organizations makes us higher outfitted to flourish in the long term.”
City and Nation prospects received’t be absolutely built-in into Heartland’s system till April. Bartlett mentioned present prospects needn’t do something presently however there might be communication with prospects all through the transition.
Throughout the transition, prospects will proceed utilizing City and Nation debit and bank cards; automated deposits and funds will proceed as scheduled; and on-line banking will stay unchanged. Nonetheless, mortgage funds made by verify after Feb. 1 must be made payable to Heartland Financial institution.
City and Nation began in 1962, when the financial institution first opened on MacArthur Boulevard in Springfield. City and Nation branches are in Jacksonville, Bloomington, Lincoln, Decatur, Quincy and Fairview Heights.
Heartland Financial institution operates 61 branches in northeastern Illinois and jap Iowa.
