The Bank Slate


Central Bancshares in Iowa to buy SENB Bank in Ill.

Central Bancshares in Muscatine, Iowa, has agreed to buy McLaughlin Holding in Moline, Ill.

The $1.1 billion-asset Central Bancshares said in a press release that it plans to buy the holding company for the $337 million-asset SENB Bank in the third quarter. The price wasn’t disclosed.

SENB Bank has six branches in Illinois, Iowa and Wisconsin.

SENB Bank shares “our core community banking philosophy: empowered local management and employees dedicated to serving our customers and communities,” Greg Kistler, Central Bancshares’ president and CEO, said in the release.

Cummings & Co. and Barack Ferrazzano Kirschbaum & Nagelberg advised Central Bancshares. Dickinson Wright advised McLaughlin Holding.

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