AmeriNational Community Services in Albert Lea, Minn., has applied to buy Northwest Bancorp. of Illinois in Palatine.
AmeriNational, an economic development and affordable housing loan servicer, applied with the Federal Reserve to form a bank holding company to buy the parent of the $208 million-asset First Bank and Trust Co. of Illinois.
AmeriNational also applied with the Federal Deposit Insurance Corp. First Bank to assume certain deposits where AmeriNational is the agent or custodian.
O’Brien-Staley Partners, a Minnesota-based investment management firm, bought AmeriNational in June 2015 for $15.1 million.