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Citizens acquired by Heartland Bank

Published: Monday, Nov. 12, 2012 3:59 p.m. CDT

Heartland Bank and Trust Company has assumed the deposits and assets of Citizens First National Bank from the Federal Deposit Insurance Corporation. Citizens First National Bank was closed at 5 p.m. Friday, Nov. 2 by the Office of the Comptroller of the Currency, which appointed the FDIC receiver.

The bank has 20 offices throughout north central Illinois, including Newark, Plano, Sandwich and Somonauk. The branches reopened on 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. We think they will be good markets for Heartland Bank in the long run,” said Fred Drake, chairman and CEO of Heartland Bank.

Customers 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.

Headquartered in Bloomington, Heartland Bank is an independently-owned community bank that now has assets of $2.9 billion and 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.