Local bank acquired by Illinois banking firm

blackhawkbank

Blackhawk Bank, based in Beloit, has been acquired by First Mid Bancshares, an Illinois based banking firm.

Blackhawk CEO Todd James says because there isn’t overlap in footprint there isn’t any plans at this time to close any branches and they should all remain open.

James says one of the benefits of the merger is it will better help those in the ag business as First Mid has roots in agricultural lending and offers farm management and insurance brokerage.

The transactions is expected to close in the second half of this year.