St. Louis-based Magna Group Inc. said Thursday it would pay cash to acquire nearly $200 million in assets from Community Bank of Greater Peoria, 5 becoming the second Missouri bank to move into Illinois' second largest city this year.

The company refused to say how much it would pay to acquire the seven bank locations, all in the Peoria area, and the two loan origination offices in nearby Bloomington and Champaign.

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