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Peoples acquires local First Bank branch

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The Peoples State Bank of Newton announced last week that it has signed a purchase and assumption agreement to acquire three Southern Illinois branch locations (Vandalia, Greenville and Salem) with approximately $84 million in deposits from First Banks Inc.’s banking subsidiary First Bank.  
Peoples has also agreed to purchase the fixed assets and a small amount of loans related to the purchased branches.  They expect the transaction to close during the first half of 2018, subject to regulatory approval and satisfaction of customary closing conditions.


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The Leader-Union | circulation@leaderunion.com | 618-283-3374
P.O. Box 315, 229 S Fifth Street, Vandalia, IL 62471
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