National City Bancshares announced last week it would acquire Illinois One Bancorp, Shawneetown, for an undisclosed sum.
Evansville, Ind.-based National City is the $1.2 billion-asset holding company for 12 community banks in Indiana, Illinois, and Kentucky. Illinois One is the parent of $79 million-asset Illinois One Bank.
"It is a well-run, well-managed bank in an area we want to expand in," said John D. Lippert, chairman and chief executive officer of National City.
Illinois One Bank will maintain its name and board. The deal is expected to close by the end of the first quarter.