Daily News: March 1, 2018

Midland States Completes Acquisition of Alpine

Midland States Bancorp completed its acquisition of Alpine Bancorporation, the parent company of Alpine Bank & Trust. As a result of the transaction, Alpine Bank & Trust is now a wholly owned subsidiary of Midland.

Alpine Chairman R. Robert Funderburg, Jr. will join Midland’s holding company board, while Bill Roop, president and CEO of Alpine, will join the bank board and serve as integration liason.

The merger created the fourth largest community bank in Illinois, with a combined total of 70 locations throughout both Illinois and Missouri. Midland’s total assets now come to approximately $5.7 billion.

Leon J. Holschbach, CEO of Midland, commented, “We are very pleased to welcome Alpine’s customers, employees and shareholders to Midland. Rob and [Bill’s] continued presence, together with the rest of the ongoing Alpine team, will help ensure continuity in market presence and leadership.”

“At the core, we are both community banks investing back in the communities we serve,” Funderburg added. “Our customers will be able to enjoy more services and more convenience, all delivered with the same attention to detail and personal service they have come to expect.”