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The
board of directors of AC Bancorp, Inc., parent company of the
Alliance Community Bank, and the board of directors of Firstate
Bancorp, Inc., parent company of the 1st State Bank of Mason
City, are both pleased to announce the completed merger of their
banks, operating under the Alliance Community Bank brand. With
over $350 million in assets, Alliance Community Bank is
established as the leader in agricultural lending and
residential fixed rate mortgage lending in the geographic market
area north of Springfield, Illinois. This merger increases their
market share while growing their service area into Mason and
Logan counties by adding a Mason City location to their bank
network.
Headquartered in Petersburg, Illinois in the heart of Menard
County, bank President and CEO John L. Leinberger credits
today’s announcement as a culmination of the strategic plans of
both banks.
“Alliance Community Bank is not just our name, it reflects what can happen when
people work together toward a common goal. We are a full – service financial
institution with access to traditional bank products in addition to wealth
management and trust services. We have local ownership, a board of directors
with deep roots in our communities, and our employees live and shop locally. Our
financial and volunteer support for local municipalities and community service
organizations is without equal. Our proven commitment to be an active part of
the communities we serve is what attracted the 1st State Bank of Mason City to
join our banking alliance. We have a storied legacy and envision an exciting
future for Alliance Community Bank. We look forward to opportunities to expand
into new markets as a progressive community-focused bank.”
[Lindsy McAnally
Vice President of Administration
CRA/Assistant Compliance Officer]
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