An unknown local depository institution completed the acquisition of Retail Deposits of the Bankâs Danville, Illinois, Branch from CIB Marine Bancshares, Inc..
June 07, 2023
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An unknown local depository institution agreed to acquire Retail Deposits of the Bankâs Danville, Illinois, Branch from CIB Marine Bancshares, Inc. (OTCPK:CIBH) on February 16, 2023. The balances are subject to change prior to the closing. The transaction requires regulatory approvals and is not expected to close until the second quarter of 2023. Whitley A. Cummings of Cummings & Company, LLC acted as financial advisor, and Godfrey & Kahn served as legal counsel to CIBM Bank in connection with this transaction.
An unknown local depository institution completed the acquisition of Retail Deposits of the Bankâs Danville, Illinois, Branch from CIB Marine Bancshares, Inc. (OTCPK:CIBH) on June 8, 2023.
CIB Marine Bancshares, Inc. (CIB Marine) is a bank holding company, which provides a full range of banking and related services through its banking subsidiary, CIBM Bank (the Bank). Its segments include mortgage, banking and corporate. The Bank offers a full array of traditional banking services, including a range of loan products, such as commercial loans, commercial real estate loans, commercial and residential construction loans, government guaranteed loans, one-to-four family residential real estate loans, home equity loans, consumer loans, and commercial and standby letters of credit; consumer and commercial deposit accounts, including savings, checking, and time deposits; trust services; cash management; repurchase agreements, and other traditional community banking services. The Bank operates approximately 10 banking offices and eight mortgage loan offices in Illinois, Wisconsin and Indiana.
An unknown local depository institution completed the acquisition of Retail Deposits of the Bank’s Danville, Illinois, Branch from CIB Marine Bancshares, Inc..