NEW GLARUS - Amcore Bank in New Glarus and Belleville have been sold to Union Bank and Trust Company of Evansville.
Amcore Bank spokesperson Katherine Taylor said the sale is expected to be finalized in the fourth quarter of the year.
Union Bank and Trust Company senior vice president Stephen Eager said the two banks fit in well with the other banks the company owns in Evansville, Brooklyn and Oregon.
Eager expects the five employees working at Amcore Bank in New Glarus will remain with the bank when the sale is finalized.
Union Bank and Trust Company has a bank in Belleville. Eager said the two banks will consolidate. He's not sure if any of the staff at the Amcore Bank in Belleville will transfer to the new bank.
Amcore Chairman and Chief Executive Officer William McManaman said the decision to sell was part of the bank's effort to improve profitability and efficiencies.
He said Union Bank and Trust Company has a strong community banking philosophy and he believes it will continue to provide quality service to Amcore customers.
Last week Amcore Bank in Monroe and Argyle was sold First National Bank and Trust Company of Beloit.
Union Bank and Trust Company is based in Evansville. It was founded in 1897 as the Grange Bank and was purchased by Gertrude Eager in 1916. Union Bank and Trust Company is a family owned and managed bank with a full range of consumer and commercial banking and lending services.
Amcore Bank spokesperson Katherine Taylor said the sale is expected to be finalized in the fourth quarter of the year.
Union Bank and Trust Company senior vice president Stephen Eager said the two banks fit in well with the other banks the company owns in Evansville, Brooklyn and Oregon.
Eager expects the five employees working at Amcore Bank in New Glarus will remain with the bank when the sale is finalized.
Union Bank and Trust Company has a bank in Belleville. Eager said the two banks will consolidate. He's not sure if any of the staff at the Amcore Bank in Belleville will transfer to the new bank.
Amcore Chairman and Chief Executive Officer William McManaman said the decision to sell was part of the bank's effort to improve profitability and efficiencies.
He said Union Bank and Trust Company has a strong community banking philosophy and he believes it will continue to provide quality service to Amcore customers.
Last week Amcore Bank in Monroe and Argyle was sold First National Bank and Trust Company of Beloit.
Union Bank and Trust Company is based in Evansville. It was founded in 1897 as the Grange Bank and was purchased by Gertrude Eager in 1916. Union Bank and Trust Company is a family owned and managed bank with a full range of consumer and commercial banking and lending services.