Bloomington-based Heartland Bank and Trust has agreed to acquire American Midwest Bank in Sycamore.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The acquisition will be made in cash, though terms of the deal have not been disclosed yet.

Following completion of the transaction, Heartland Bank will have 64 banking offices with total assets of $3bn.

The deal, subject to regulatory approval, is scheduled to be completed by the end of this year or early next year.

Heartland Bank and Trust executive vice president and chief retail officer Diane Lanier hinted that Heartland Bank does not intend to shut down any American Midwest branches following the takeover.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

She further said that customers of American Midwest Bank should not expect any immediate changes to their accounts – including fees, debit and credit cards – post acquisition.