©2011 Galesburg Broadcasting Co.
| Two Bank Merger Complete |
Banks have certainly been in the news lately for all the wrong reasons, but officials with two local banks say they see nothing but good things for them now that their merger is complete.
Officials with both Tompkins State Bank and the Community Bank of Galesburg say their merger has officially been completed, as of Monday.
Tompkins announced plans in March to acquire the Community Bank of Galesburg, pending the completion of all the federal and state regulatory hurdles.
Tompkins CEO Keith Douglass says all the employees at the Galesburg bank are being retained, and Community Bank President Patrick Blake says that means for customers, the only thing they'll see different is the bank's name.
Blake will remain with the new Tompkins State Bank Galesburg branch as its president.
Tompkins is currently working with the city of Galesburg to try and get a communications tower up at Community Bank A-T-M in the Hawthorne Center, that will allow data from that machine to be transmitted to their banks.
Despite Galesburg Plan Commission approval of the plan, City Manager Dane Bragg said at last Monday's City Council meeting that they were working with the bank to try and get the communications equipment on a nearby tower instead of having a new tower being built.
Tompkins State Bank operates other branches throughout Knox and Fulton Counties; with the new acquisitions, they say they have assets valued at $163-million, $98-million in loans, and $127-million worth of deposits.
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| 12 07 08 by Newsroom |
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