Two Midwest community banks plan to close a total of 11 branches and record charges to pay for the shutdowns.

The $3.2 billion-asset Midland States Bancorp in Effingham, Ill., will close seven branches by March 1, according to a Monday news release. The $1.5 billion-asset MutualFirst Financial in Muncie, Ind., will close four branches of MutualBank in the first quarter, it said in a Wednesday regulatory filing.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.