ROCHELLE – Officials from Rochelle’s Lincoln State Bank and Tri-County Financial Group, based in Mendota, have announced a bank merger.
Timothy J. McConville President and CEO of Tri‑County Financial Group, Inc., and Richard K. Ohlinger, President and CEO of Lincoln Bancorp, Inc., are pleased to announce that the companies have entered into a definitive agreement under which Lincoln will be acquired by Tri‑County. In addition, Lincoln State Bank, will merge its operations with Tri‑County’s affiliate, First State Bank.
The board of directors of both financial institutions have unanimously approved the transaction. The combination is subject to approval by the shareholders of Lincoln, the Federal Reserve Bank of Chicago, the Illinois Department of Financial and Professional Regulation and the FDIC.
For the complete article see the 02-21-2013 issue.
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