FIG Partners Served As Financial Advisor To MidCountry Bank
In Sale Of Eight Bank Branches To Legence Bank
ATLANTA, Feb. 22, 2017 — MidCountry Bank, based in Minnesota, has signed an agreement to sell eight bank branches to Legence Bank, a wholly owned subsidiary of First Eldorado Bancshares, Inc. in Illinois. Terms of the deal were not disclosed.
The eight branches, located in southern Illinois, have approximately $146 million in deposits. The transaction is expected to be completed in the third quarter of 2017.
“MidCountry Bank is proud to have served these communities in southern Illinois for more than 12 years, allowing us to develop a number of personal and professional relationships,” said Steve Meads, President and CEO of MidCountry Bank. “Maintaining these locations and providing future opportunities for our employees within their respective communities was a driving factor in choosing Legence Bank to purchase these branches.”
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