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Heartland Bank acquires Citizens Bank from FDIC

Minooka branch is one of 20 offices impacted

Published: Monday, Nov. 5, 2012 9:55 a.m. CDT • Updated: Monday, Nov. 5, 2012 12:08 p.m. CDT

Heartland Bank and Trust Company has assumed the deposits and assets of Citizens First National Bank, headquartered in Princeton, Ill., from the Federal Deposit Insurance Corporation (FDIC).

Citizens First National Bank was closed at 5 p.m. Friday by the Office of the Comptroller of the Currency, which appointed the FDIC receiver. The bank has 20 offices located throughout North Central Illinois, including one in Minooka.

The branches reopened Saturday, Nov. 3 as Heartland Bank.

“This is an opportunity for us to expand into this market, and carry on the community banking tradition in those communities," said Fred Drake, chairman and CEO of Heartland Bank. "We think they will be good markets for Heartland Bank in the long run,”

Customers can be assured that their accounts are safe, secure, and readily accessible. They can continue to use their checks and ATM/debit cards to access their funds as usual. Direct deposits and automatic payments will also continue as scheduled.

"Our goal is that people will not feel much change at all," Drake said. "Eventually, we will consolidate the system and change the signs, but people will feel very comfortable with the seamless change."

“Heartland Bank is pleased to welcome the customers and employees of Citizens First National Bank. We have strong community bank roots, and have grown in our capability and technology to deliver more products and services to our customers," Drake said. "Today’s consumers have many choices. Our customers appreciate the community bank culture that has been our trademark.

"We are very committed to community banking and look forward to serving customers in this area.  We are well prepared and have worked hard to make their transition very smooth."

Heartland Bank has excellent management and customer service staff. The bank has a strong capital position and has enjoyed good financial performance for many years. Headquartered in Bloomington, Ill., Heartland Bank is an independently owned community bank now has assets of $2.9 billion and has offices in 48 communities in Illinois and Northeast Missouri.

The bank offers a complete line of financial services to commercial and retail customers. More information is available on the bank’s website at www.hbtbank.com.

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