SPRINGFIELD, Ill., Feb. 29, 2016 (GLOBE NEWSWIRE) -- Town and Country Financial Corporation (“TCFC”) (OTC Pink:TWCF), the parent company of Town and Country Bank (“TCB”), today announced that it has completed its acquisition of West Plains Investors, Inc. (“WPI”), the parent company of Premier Bank of Jacksonville (“Premier”). TCFC previously announced on September 30, 2015 that it had entered into a definitive agreement to acquire WPI in an all cash transaction.
As of December 31, 2015, TCB and Premier had approximately $516 million and $186 million in assets, respectively. At the closing, Premier’s four offices in Jacksonville, Waverly, White Hall, and Edwardsville became branches of TCB under the Town and Country Bank name. The Edwardsville branch previously used the trade name “TheEDGEBANK.” Paul White, President and CEO of Premier, and Kent Weber, President of TheEDGEBANK, became Community Bank Presidents for TCB.
“We warmly welcome the customers and employees of Premier and TheEDGEBANK to the Town and Country family,” said Micah R. Bartlett, President and CEO of TCFC. “We are excited to continue offering high levels of customer service, while providing added convenience, enhanced products and services, technology, and lending capacity for our customers.”
The company also today announced that it has added Bart Solon to its board of directors. Mr. Solon is a retired career banker from Edwardsville who most recently served on the board of directors of Premier Bank of Jacksonville.
Commenting on his appointment to the TCFC Board, Mr. Solon noted, “I am excited to be joining the board of an innovative and growing banking organization that has demonstrated clear commitment to the communities it serves and to a business model built around improving the financial lives of their customers and clients.”
TCFC Executive Chairman David E. Kirschner added, “We look forward to serving the Premier customers and are honored to have longtime Edwardsville resident and businessman Bart Solon join our board. His experience as a banker will not only benefit our organization overall, but his perspective and success in the local area will also be invaluable as we continue to grow in the Edwardsville, Fairview Heights, and wider metro-east market.”
On January 27, 2016, TCFC announced plans to acquire a Centrue Bank branch in Fairview Heights, approximately 15 miles from the newly acquired Town and Country Bank branch in Edwardsville. That transaction is anticipated to close in late second quarter 2016.
About Town and Country Financial Corporation. Town and Country Financial Corporation is a financial holding company headquartered in Springfield, Illinois with approximately $700 million in total assets. Its shares are quoted on OTC Pink under the symbol TWCF. Its subsidiaries include Town and Country Bank and Town & Country Banc Mortgage Services, Inc. with 13 offices in Buffalo, Decatur, Edwardsville, Jacksonville, Lincoln, Mt. Zion, Springfield, Waverly, White Hall, and Peoples Prosperity Bank (a division of Town and Country Bank) in Quincy, Illinois. The company provides comprehensive lines of retail, commercial, agricultural, and mortgage banking, as well as trust and investment services to families, businesses and organizations. For more information about TCFC, visit www.townandcountrybank.com
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