Farmers State Bank of Danforth and Aroma Park is merging with the Kankakee-based First Trust Bank. The announcement, in a press release, states the merger is likely to be finalized later this year. The anticipated transaction will increase the First Trust assets to $300-million.
The merger combines banking of the First Trust Bank, adding locations at Danforth and Aroma Park to operate under the umbrella of First Trust Bank of Illinois.
Jeff Smith, Chairman of First Trust, said “we’re confident this partnership will bring additional strength and opportunities to the Kankakee and Iroquois county areas.”
The chairman of Farmers State Bank, Steve Lemenager, also said “partnering with a respected, successful community-focused bank like First trust Bank will ensure our customers and communities will continue to receive the banking services they deserve for generations to come.”