First Community Financial Partners in Joliet, Ill., will combine its four banks under a single charter to increase the availability of products at each one.

The banks — Burr Ridge Bank and Trust, First Community Bank of Homer Glen & Lockport, First Community Bank of Plainfield and First Community Bank of Joliet — will be consolidated into First Community Financial Bank but will retain their local community bank identities, the $871 million-asset company said Tuesday.

The combined charter "will have the ability to provide its customers a greater range of products, services and access to expertise than any of the banks could provide individually," the company said.

The transaction is expected to close in the first quarter of 2013.

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.