Illinois

The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.

The Illinois company plans to acquire neighboring Bancorp Financial in a cash-and-stock transaction that would form the second largest community bank in the Chicago area.

The whistleblower who brought the case, Minnesota-based municipal advisor Johan Rosenberg, will receive $14.4 million under the deal.

The parent of the $1.1 billion-asset CBI Bank & Trust said it would buy McLaughlin Holding and its SENB Bank unit.

Scott Credit Union of Edwardsville said it is acquiring Tempo Bank in Trenton, Illinois. It is the fifth such transaction announced since Aug. 5 and the 10th of the year.

The Aurora, Illinois-based buyer said it would pay $297 million to acquire West Suburban Bancorp in Lombard, Illinois.

In merging with First Midwest Bancorp, the Indiana company would finally gain a presence in the Midwest’s largest city.

First Midwest Bancorp in Chicago and Old National Bancorp in Evansville, Indiana, agreed to an all-stock merger-of-equals that would create a $45 billion-asset Midwestern regional player.

The state's Department of Financial and Professional Regulation will reduce assessments by 61% this year because of overpayments in 2020, helping state-chartered credit unions deal with economic fallout from the pandemic.

Ann Dubie stepped down from the Joliet, Ill.-based credit union in March after 20 years at the helm.

Rex Johnson, who helped found the New Jersey credit union in 1980, was 77.

Two banking bills signed by Gov. J.B. Pritzker carry implications for payday lenders, auto title lenders, credit unions and nonbank mortgage lenders. Pritzker, a Democrat, said the bills will address racial-equity gaps in the state.

The Illinois company has agreed to pay $191 million for the parent of Glenview State Bank.

It is the 18th state to pass a law imposing rate caps on all consumer loans, including payday and car title loans.

The company is looking to shutter 10 of its 63 branches over coming months, reflecting a shift in customer preferences.

Infinity FCU sought out a merger partner after realizing that even at $338 million in assets it was too small to provide the technologies members wanted. It could be a harbinger of more deals among larger players.

The company also plans to shed some corporate office space by the end of this year.

NuMark and NorthStar Credit Unions plan to join forces later this year, with NuMark CEO Ann Dubie retiring once the deal has been completed.

Having been forced to cancel in-person events because of the pandemic, leagues representing CUs in Kansas, Missouri and Illinois have joined forces for a three-day event next month.

C&NW Proviso, which has no website or online services, will gain a slate of new products and additional locations from the deal.