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Longview Capital Corporation to
Acquire Federated Bank
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 [January 08, 2025]
Newman and Onarga, Illinois – The Longview
Capital Corporation (LCC) announced that it has entered into an
agreement whereby it will acquire the stock of Federated Bank from
Admiral Family Banks in an all-cash transaction.
The proposed transaction will expand Longview Capital Corporation’s
branch footprint into Iroquois, Kankakee and Will counties and
result in an increase in Longview Capital Corporation’s asset base
to approximately $1 billion based on financial data as of September
30, 2024.
David Albin, Chairman of the Board and President of Longview Capital
Corporation, commented “We are proud to add Federated Bank to the
Longview Capital Corporation family, and it is our intention for
Federated Bank to continue to operate as an independent bank charter
for the foreseeable future. LCC is committed to continuing the
tradition of excellent service and customer satisfaction that we are
renowned for in our community. We look forward to working together
to navigate this expansion and collaboration.”
Matt Clark, President & CEO of Federated Bank,
commented “We are excited to join forces with a banking group that
shares our values, commitment to community, and dedication to
serving local customers. Together, we will build on our shared
mission of providing trusted financial services to the communities
we serve.”
The proposed transaction, which has been unanimously approved by the
boards of directors of both companies but remains subject to
customary closing conditions including approval by applicable bank
regulatory authorities, is expected to be completed in the first
quarter of 2025.
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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 and 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 additional information about
Longview Capital Corporation, please visit longviewcap.com.
About Federated Bank
Founded on January 16, 1918, as Onarga State Bank, Federated
Bank was issued a charter by the State of Illinois. As of
September 30, 2024, Federated Bank had total assets of
approximately $119 million, total deposits of approximately $98
million and total loans of approximately $54 million, and
operates four branches in Onarga, Loda, Chebanse and Bradley
with a loan production office in Braidwood, Illinois. More
information about Federated Bank can be found at
federatedbank.com
For additional information
pertaining to the acquisition, please contact:
David Albin
President
(217) 497-2487
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