NEWMAN & MOUNT PULASKI, Ill.–(BUSINESS WIRE)–Longview Capital Corporation announced today that it has entered into an agreement whereby it will acquire The Farmers Bank of Mt. Pulaski in an all-cash transaction.
The proposed transaction will expand Longview Capital Corporation’s branch footprint to Logan County with the addition of a branch in Mount Pulaski, Illinois. The combination will result in an increase in Longview Capital Corporation’s asset base to approximately $731 million based on financial data as of December 31, 2021.
David Albin, President & Director of Longview Capital Corporation, commented, “We are very excited about the proposed merger with The Farmers Bank of Mt. Pulaski. Our companies share similar values and our partnership will reinforce the foundation for an extraordinary community bank that puts our customers, employees, and communities first. We look forward to entering an attractive new market that is a logical extension of our existing operations.”
“We are proud to partner with Longview Capital Corporation, and believe the merger is an excellent fit,” said Rick Volle, Chairman of the Board and President of The Farmers Bank of Mt. Pulaski “We believe this combination will better align our resources, enhance our financial strength, and expand our product offerings and technology solutions, all of which will allow us to better-serve our customers and communities.”
The proposed transaction, which has been unanimously approved by the boards of directors of both companies but remains subject to customary closing conditions, as well as approval by The Farmers Bank of Mt. Pulaski’s stockholders and by applicable bank regulatory authorities, is expected to be completed in the second quarter of 2022.
Olsen Palmer LLC served as financial advisor and Vedder Price P.C. served as legal advisor to The Farmers Bank of Mt. Pulaski. Hinshaw & Culberson, LLP served as legal counsel to Longview Capital Corporation.
About Longview Capital Corporation
Longview Capital Corporation is a bank holding company based in Newman, Illinois with three banking subsidiaries: Bank of Gibson City, Longview Bank, and Longview Bank & Trust. Between the three subsidiaries there are 12 branches located in: Georgetown, Chrisman, Marshall, Paris, Royal, Ogden, Saint Joseph, Newman, Sidney, Camargo, and Villa Grove, Illinois. As of December 31, 2021, Longview Capital Corporation had total assets of $665 million. For more information on Longview Capital Corporation, please visit www.longviewcap.com.
About The Farmers Bank of Mt. Pulaski
Founded in 1872, The Farmers Bank of Mt. Pulaski has total assets of approximately $66 million, total deposits of approximately $59 million, total loans of approximately $16 million, and operates one branch in Mount Pulaski, Illinois. More information about The Farmers Bank of Mt. Pulaski can be found at www.farm-bank.com.
David A. Albin