MONROE - Amcore Bank locations in Monroe and Argyle have been sold to First National Bank and Trust Company of Beloit.
Brian Bisbey of First National Bank and Trust Company said employees at Amcore Bank in Monroe will continue to work for First National after the sale is completed.
Amcore Bank spokeswoman Katherine Taylor said the sale is expected to be finalized in the fourth quarter of the year. The sale was announced Wednesday.
Amcore Chairman and Chief Executive Officer William McManaman said the decision to sell was part of the bank's effort to improve profitability and efficiency.
He said the First National Bank and Trust Company has a strong community banking philosophy and he believes it will continue to provide quality service to Amcore customers.
Steven M. Eldred, president and chief executive officer of First National Bank and Trust, said the sale was good for Monroe and Argyle.
"Customers can expect a broad array of products and services, including checking and savings programs, residential mortgages, commercial lending, wealth management and a variety of electronic conveniences such as mobile banking and online account opening," he said.
First National Bank and Trust Company has 11 banking locations in southern Wisconsin and northern Illinois. The bank has total assets of $631 million and offers full service banking to its customers, including consumer mortgage services, trust, brokerage and retirement services.
Additional information about First National Bank and Trust Company is available on the company's Web site at www.bankatfirstnational.com.
Brian Bisbey of First National Bank and Trust Company said employees at Amcore Bank in Monroe will continue to work for First National after the sale is completed.
Amcore Bank spokeswoman Katherine Taylor said the sale is expected to be finalized in the fourth quarter of the year. The sale was announced Wednesday.
Amcore Chairman and Chief Executive Officer William McManaman said the decision to sell was part of the bank's effort to improve profitability and efficiency.
He said the First National Bank and Trust Company has a strong community banking philosophy and he believes it will continue to provide quality service to Amcore customers.
Steven M. Eldred, president and chief executive officer of First National Bank and Trust, said the sale was good for Monroe and Argyle.
"Customers can expect a broad array of products and services, including checking and savings programs, residential mortgages, commercial lending, wealth management and a variety of electronic conveniences such as mobile banking and online account opening," he said.
First National Bank and Trust Company has 11 banking locations in southern Wisconsin and northern Illinois. The bank has total assets of $631 million and offers full service banking to its customers, including consumer mortgage services, trust, brokerage and retirement services.
Additional information about First National Bank and Trust Company is available on the company's Web site at www.bankatfirstnational.com.