Hometown Community entering northwest Illinois with bank acquisition

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Hometown Community Bancorp in Morton, Ill., has agreed to buy Albany Bancshares in Illinois.

The $3.8 billion-asset Hometown plans to complete the purchase of the $182.7 million-asset Albany Bancshares by the end of this year, according to a notice distributed by Hovde Group, which advised the seller.

Hometown did not disclose the price it will pay.

Albany Bancshares, the parent of First Trust & Savings Bank, has four branches, $156 million in deposits and $123 million in loans.

The move marks Hometown’s entry into two counties northwest of its existing operations. Albany Bancshares has the fifth-biggest deposit market share in Whiteside County; it is the 13th-biggest bank in Rock Island County.

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