Thu April 28, 2005
Western Illinois Banks Bought
Macomb, IL – The parent company for Citizens National Bank is being acquired by a suburban Chicago company. The transaction between Citizens Central Bancorp and JGS Investments of Oak Brook should be completed by early next year. It's subject to shareholder and regulatory approval. Citizens Central Bancorp President and CEO Tim Fleming says his company's name will not change, there will be no loss of or change in personnel, and there will be no changes to accounts. He says both companies stand to benefit from the transaction. Fleming declined to say how much JGS is paying to acquire Citizens, which operates eight banking locations in four western Illinois counties.