Longview Capital Corporation to Acquire Middletown State Bank

 

[December 19, 2024]  Newman and Middletown, Illinois – The Longview Capital Corporation announced today that it has entered into an agreement whereby it will acquire Middletown State Bank in an all-cash transaction.

The proposed transaction will further expand Longview Capital Corporation’s branch footprint in De Witt, Logan and Menard Counties. The combination will result in an increase in Longview Capital Corporation’s asset base to approximately $929 million based on financial data as of September 30, 2024.

David Albin, Chairman of the Board, President of Longview Capital Corporation, commented “We are proud to add Middletown State Bank to the family of Longview Capital Corporation. LCC committed to continuing the tradition of excellent service and customer satisfaction that we are renowned for in our community. We look forward to a seamless transition as we navigate this expansion and collaboration.”

“We were impressed with Longview Capital’s growth record and its commitment to exceptional customer service. We are confident that they will continue to serve our community’s financial needs,” said Robert Barker, President of Middletown State Bank.

The proposed transaction, which has been unanimously approved by the boards of directors of both companies but remains subject to customary closing conditions, as well as approval by applicable bank regulatory authorities, is expected to be completed in the first quarter of 2025.

About Longview Capital Corporation
Longview Capital Corporation is a bank holding company based in Newman, Illinois with three banking subsidiaries: Bank of Gibson City, Longview Bank, Longview Community Bank. Between the three subsidiaries there are 17 branches located in: Mt. Pulaski, Chestnut, Clinton, Gibson City, Tilton, Georgetown, Chrisman, Marshall, Paris, Danville, Royal, Ogden, Saint Joseph, Newman, Sidney, Villa Grove and Tuscola, Illinois. As of September 30, 2024, Longview Capital Corporation had total assets of $887 million. For more information of Longview Capital Corporation, please visit www.longviewcap.com.

About Middletown State Bank
Founded in 1917 as Marbold State Bank of Middletown, Middletown State Bank was issued a charter by the State of Illinois. As of September 30, 2024 Middletown, State Bank had total assets of approximately $42 million, total deposits of $36 million, total loans of approximately $30 million, and operates 3 branches in Middletown, Greenview, and Latham, Illinois. More information about Middletown State Bank can be found at www.middletownstatebank.com.
 

[Text received from Cam Pepper
Longview Bank]