Effingham and Trenton, Illinois (March 3, 2025) – Dieterich Financial institution (“Dieterich”) and Group Financial institution of Trenton (“CBT”) introduced at the moment that Dieterich Financial institution will purchase CBT in an all-cash transaction, which has been accepted by Dieterich’s Board of Administrators, the shareholders of CBT, and the Federal Reserve Financial institution of St. Louis. The transaction, which stays topic to additional regulatory approval, is anticipated to shut within the third quarter of 2025. On a professional forma foundation, based mostly on December 31, 2024, numbers, the mixed firm would have whole belongings of $1.48 billion and 16 full-service banking places in southeastern Illinois in addition to a Missouri based mostly mortgage manufacturing workplace.
“We’re excited to welcome the staff, clients, and communities of CBT to the Dieterich Financial institution household,” stated Jason Semple, CEO of Dieterich Financial institution. “Steven Wallace, President and CEO of CBT, and his workforce have earned a robust status over the past 60 years by means of their dedication to customer support, relationship constructing, and serving their communities. We’re assured in our skill to hold ahead this custom of excellence. The tradition, staff, and department places in Trenton and Breese and the encompassing areas are a pure match for Dieterich Financial institution. Along with including an amazing group of relationship pushed bankers, the transaction aligns with our strategic initiative to broaden our geographic footprint and department community.”
“We have been looking for a associate who not solely understood our market, however who might improve the expertise of our clients by means of an expanded providing of services whereas offering our loyal workers the chance to proceed to serve our neighborhood,” added Steven Wallace, President and CEO of CBT. “Dieterich Financial institution met all these standards. We imagine that Dieterich’s added operational assist will enable our workers to additional improve the banking relationships we’ve got labored so arduous to develop. We look ahead to partnering with Dieterich and are excited for the alternatives that lie forward.”
Further monetary particulars surrounding the transaction weren’t disclosed.
About Dieterich Financial institution
Dieterich Financial institution, a unit of Prime Banc Corp., was chartered in 1909. For the previous six years the financial institution has been acknowledged as a Greatest Locations to Work in Illinois.
