TS Banking Group of Treynor, Iowa has entered into an agreement with First Clinton Bancorporation, Inc., to acquire First National Bank and Trust Company of Clinton, IL, with banking assets of 118 million and trust assets of 105 million.
In an announcement from TS Bank group, John M. Killian, President and CEO said quote - “As we reviewed potential merger candidates, we purposely approached TS Bank. Based on their track record of giving back to the community, their financial literacy programs for schools, and being a family-owned and managed bank, it gave us confidence in the culture and integrity of the company. TS Bank is a very good fit for our bank, our staff, our customers, and the community we serve.”
Bank officials indicate First National Bank staff will remain intact and they will keep their name. Another keep piece of the merger is the bank also keeps their national bank charter designation.
TS Banking Group also will implement a couple community based programs as a part of the merger with First National Bank where 10% gross profits go back into community, including part of those funds going back into a school literacy program that focuses on financial education towards youth.
“First National Bank and Trust shares many of the same qualities and values of TS Banking Group, which makes this a great fit,” said Joshua M. Guttau, TS Banking Group CEO.
TS Banking Group is headquartered in Treynor, Iowa, located in the Omaha, NE MSA.