Firstbank of Illinois Agrees To Sell Off Rend Lake Unit

SPRINGFIELD, Ill. - Firstbank of Illinois Co. said it has signed a definitive agreement to sell certain assets and transfer substantially all the liabilities of Rend Lake Bank in Christopher to Banterra Bank, also of Christopher.

Terms were not disclosed. The sale is expected to be closed in February. Rend Bank, with assets of $17 million, became part of Firstbank with its acquisition of PBM Bancorp. Banterra Bank is owned by Banterra Corp.

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