Introductory Merger Letter

February 20, 2023

To Our Valued Customers,

I am following up with you on our initial letter dated January 23, 2023, informing you of our intent to merge with our affiliate, First State Bank, which is headquartered in Monticello, IL pending regulatory approval.  For over 30 years, both institutions have been part of a two-bank holding company.  The company is entirely owned by our employees through our Employee Stock Ownership Plan.  Another notable change is that the resulting bank will now be named First State Bank and Trust as of the merger date.

There will be no change in personnel, and you will have additional access to an expanded branch network.  You’re familiar with our offices in Bloomington, Heyworth, Westminster Village, and Luther Oaks.  In addition, beginning Monday, April 3, 2023, you will also have access to new locations in Monticello, Champaign, Tuscola, Atwood, and Hammond, IL.

The integration of the two banks will require some coordination of key events to ensure all information and supporting services transition with as little impact as possible.

All of our branch locations will be closed beginning at 6:00pm on Friday, March 31, 2023, closed on Saturday, April 1, 2023, and will reopen on Monday, April 3, 2023 at our normal times.

Some banking services will temporarily go offline late afternoon on Friday, March 31, 2023.  This will impact Digital Banking (via the website and mobile app), and Telephone Banking.  All these services will be restored as the merged institution by the start of business on Monday, April 3, 2023.

Your current checks, scheduled ACH transactions, and automatic transfers between accounts (including overdraft protection) will continue to process as usual.  Any stop-payment orders you have in place will be honored.  All account history, bill pay history and payees will transfer over and be accessible on Monday, April 3, 2023.

Please continue reading for specific information regarding our banking services over merger weekend:

ATM and Debit CardholdersYour existing card will operate with lower than standard limits beginning on Friday, March 31, 2023 at 10:00pm, and ending on Sunday, April 2, 2023 at 10:30pmGiven the importance of card transactions, you are strongly encouraged to consider having an alternative payment method available over merger weekend.  Your existing card will not need to be replaced with the merger.

All Digital Banking Services will go offline at 4:00pm on Friday, March 31, 2023.  All services accessible via the mobile app or the bank’s website will not be accessible during this time. Services include:

  • Bill Pay. You will not be able to access our Bill Pay Service during this time; however, recurring or automatic bill payments and any previously scheduled payments will continue to process as normal during this time period. On Monday, April 3, 2023, your Bill Pay functionality will return to normal. All history and payees will transfer over and be available once access is restored.
  • Mobile Remote Deposit (check deposits via your phone). Do not attempt to make any deposits after this time as they will not be posted to your account.  Mobile deposit availability will resume on Monday, April 3, 2023.

Accessing Digital Banking Post-Merger. After the merger, you will be asked to accept the Terms and Conditions of Digital Banking Services displayed online when you sign into the merged bank’s Digital Banking Services for the first time.

Apple iPhone users and Android users will need to download a new app post-merger which will allow Mobile Banking to operate normally. You can download the current apps via the App Store, or take advantage of links which will be provided on the website post-merger.

Digital Banking will also be accessible online at If you happen to browse to, you will be automatically redirected to the new merged bank website at

Telephone Banking will continue to use the same number of (800) 952-2719 to access our Telephone Banking Services.  Your current PIN will remain in place.  Telephone Banking will be unavailable beginning at 5:00pm on Friday, March 31, 2023, and will resume on Monday, April 3, 2023.

Statements will be produced as of the close of business on Friday, March 31, 2023, for all customers.  This interim statement is necessary to ensure a smooth transition to the single bank system.  After this date, statements will be produced on the following schedule: if your statement cycle fell on the 2nd through the 10th, your new statement cycle date will now be on the 5th, if your statement cycle fell on the 11th through the 26th, your new statement cycle will now be on the 26th, and all end of month statement cycles stay at end of the month.

We greatly value your business and loyalty, and we look forward to serving you as First State Bank and Trust.  We are grateful for your support and friendship, and I look forward to continuing the community banking tradition that has always set us apart from other financial institutions.




Matthew H. Parson

President & CEO