Community Banks merge. Port Byron State Bank becomes Blackhawk Bank & Trust
Press Release, Wednesday, June 29, 2016
Jim Huiskamp, President of Blackhawk Bank & Trust, and Dennis Eckhardt, President of Port Byron State Bank, jointly announce that the merger of Port Byron State Bank with and into Blackhawk Bank & Trust is now complete. Final merger papers were signed today and the merger is effective at the opening of business Thursday morning.
Blackhawk Bank is a locally owned Community Bank with sixteen offices in the Quad City Metropolitan Area, with thirteen offices in Illinois and three in Iowa. Port Byron State Bank has its main office in Port Byron and offices in Colona and Coal Valley. The combined bank will have assets of $1,300,000,000.
Jim Huiskamp, President of Blackhawk & Trust, said that Blackhawk Bank was pleased to be able to spread its footprint into the Port Byron Market. “Port Byron is the type of community where Blackhawk has built its reputation….strong community service with direct community involvement.” Dennis Eckhardt stated that Blackhawk’s strong capital position, together with its wide branch network in the Quad Cities, made Port Byron’s decision to merge with Blackhawk very simple.
Mr. Huiskamp said that the three existing Port Byron sites will open tomorrow as branches of Blackhawk Bank & Trust. Later this summer, the Colona and Coal Valley sites will be consolidated with Blackhawk sites in those communities while the Port Byron location will continue to serve the Port Byron area.
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