Hometown Community Bancorp in Morton, Ill., has agreed to buy Manhattan Bancshares in Manhattan, Ill.
Hometown, the holding company for Morton Community Bank, said in a press release that it plans to buy the parent of First Bank of Manhattan and New Lenox in the fourth quarter. The price wasn’t disclosed.
“We are excited to continue to expand first-class banking services for businesses and consumers in the Lincoln-Way area,” Andy Honegger, Morton Community’s president and co-CEO, said in the release.
“Manhattan employees will not only have expanded career opportunities within our bank, but also the unique opportunity to become owners of the Bank through Morton’s … ESOP,” Honegger added.
Piper Sandler and Barack Ferrazzano Kirschbaum & Nagelberg advised Hometown. Keefe, Bruyette & Woods and Vedder Price advised Manhattan Bancshares.