Peoples National Bank announced on Wednesday that Midland States Bank will be acquiring its Effingham and Vandalia banking facilities.
“We are very happy with the Effingham and Vandalia branches and are proud to have had the opportunity to serve our customers in these two markets. The sale of these two branches provides a great opportunity for us to redeploy assets to take advantage of growth opportunities in our core market areas,” said President Bill Bonan.
Peoples National Bank currently serves 16 locations in the Southern Illinois and the Metro St. Louis areas.
In 2009, Peoples National Bank plans to open two new banking facilities located in the heart of its market area. The additional branches will add to the substantial footprint already created by Peoples National Bank in Southern Illinois. “We have a tightly defined geographic footprint and are proud to be a leader in the economic growth of Southern Illinois.
“With our aggressive growth and profitability strategy, the focus remains on maximizing service to customers in our core market areas,” said CEO Forrest Langenfeld.
Peoples National Bank has experienced tremendous growth and record earnings over the past five years. Its strategic plan to focus on small businesses and agricultural customers has contributed to our success.
“We would like to thank all of our customers for the opportunity to serve them,” said President Bill Bonan.