Associated Banc-Corp is acquiring an Illinois bank for $76.3 million
Associated said the purchase of The First National Bank of Staunton and its parent company, First Staunton Bancshares Inc., will increase Associated's presence in Illinois and position the Green Bay-based bank to make further investments in the St. Louis metro market. Staunton is located between St. Louis and Springfield, Illinois.
The First National Bank in Staunton, with assets of about $543 million and almost 130 employees, posted net income in 2018 of $6.7 million, according to Federal Deposit Insurance Corp. records.
Associated Banc-Corp is the parent company of Associated Bank. With assets of $33.3 billion, it is the largest bank headquartered in Wisconsin.
Also on Thursday, Associated reported second-quarter earnings of $80.9 million, or 49 cents per share. That compared with $86.9 million, or 50 cents, in the second quarter of 2018.
https://www.greenbaypressgazette.com/story/money/business/2019/07/25/associated-banc-corp-plans-buy-illinois-bank-76-3-million/1831856001/
