Busey Finalizes Acquisition of The Banc Ed Corp and TheBANK of Edwardsville
First Busey Corporation announced the completion of its previously announced merger with The Banc Ed Corp., the holding company for TheBANK of Edwardsville.
"Being a strong, local bank for the communities we serve is important to both Busey and TheBANK," said Van A. Dukeman, President & Chief Executive Officer at First Busey Corporation. "Combining our like-minded, 150-year organizations together allows us to build upon and further strengthen our shared beliefs, community focus and commitment to service excellence. Further, this business combination supports our strategic intention of increasing market share through partnerships with organizations whom have strong core deposit funding, solid commercial banking and credit practices and a tradition of serving wealth management clients for generations."
Founded in 1868, TheBANK was based in Edwardsville, Illinois and operated 19 branch locations and one loan production office in the St. Louis, Missouri MSA. Both companies support and value an engaged and empowered associate base that will continue to contribute to strong, active communities for generations.
Kevin Powers, President & CEO of TheBANK of Edwardsville says, "Thanks to talented employees, both organizations have demonstrated success in providing premiere customer service, building and maintaining strong relationships and providing countless hours of human, social and financial capital to meet the needs of the communities we serve. We are excited TheBANK customers will continue to experience service excellence through the same bankers they know and trust, while benefiting from expanded access points across Illinois, Missouri, Indiana and Florida."
"With shared values, beliefs and focus on customer service, lasting relationships and community commitment we look forward to building upon TheBANK of Edwardsville's history of service excellence."