Agricultural Banking Corp. in Paxton, Ill., has agreed to buy Buckley Bancorp in Buckley, Ill.
Agricultural Banking, the holding company for the $200 million-asset Frederick Community Bank, said in a press release that it expects to buy the parent of the $50 million-asset Buckley State Bank in the fourth quarter. The price wasn’t disclosed
Selected Buckley State directors will join Frederick Community’s board.
“We are excited to partner with an institution that not only complements us geographically, but also shares our commitment to community banking,” Justin Swan, Frederick Community’s president, said in the release. “The communities we serve already share strong ties, and this merger will further strengthen those connections.”
Dickinson Wright advised Agricultural Banking. Gerrish Smith Tuck advised Buckley Bancorp.