Midwest Community Bancshares in Marion, Ill., has agreed to buy Carbondale Investment in Carbondale, Ill.
Midwest, the parent of the $781 million-asset First Southern Bank, said in a press release that it plans to buy the holding company for the $282 million-asset Bank of Carbondale in the second quarter.
The price was not disclosed.
Bank of Carbondale has $134 million of loans and $241 million of deposits.
“Bank of Carbondale and the Bleyer family have always been dedicated to the growth and well-being of the southern Illinois region,” John Dosier, First Southern’s president and CEO, said in the release.
“Bank of Carbondale’s philosophy of being a locally owned community bank, with high-level customer service blends very well with our own business model,” he added. “Both organizations take great pride in taking care of our customers and giving back to our communities.”
Hovde Group advised Carbondale Investment.