First National Bank of Pana in Illinois has agreed to buy The State Bank of Blue Mound in Illinois.

Financial details of the deal, which is expected to close in the fourth quarter, were not disclosed. The two banks said that the combined bank would have stronger capital and be able to offer a wider array of banking services to consumers as well as agricultural and other business customers.

The $143 million-asset First National Bank of Pana has three branches, while the $31 million-asset State Bank of Blue Mound has one.

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.