Liberty Bank is being purchased by a banking institution from central Illinois. United Community Bancorp, Inc. of Chatham has announced a deal has been reached to acquire 100% of Liberty Bank. Liberty Bank has four Riverbend locations, in Alton, Godfrey, and Bethalto.
The acquisition is contingent upon regulatory and Liberty's stockholder approval, and is expected to close in the first quarter of 2017. Liberty Bank President and CEO Dale Blachford tells The Big Z this should be a seamless transition.
Click here for Blachford's comments
Blachford says the plan is to remain as involved in the Riverbend community as they are now. With the addition of Liberty's four locations, United Community Bancorp will be the largest banking group in Sangamon County and West Central Illinois with $2.5 billion in consolidated assets.