06/22/2022
FOR IMMEDIATE RELEASE
June 21, 2022
The Bank of Carbondale is now part of the First Southern Bank family.
Midwest Community Bancshares, Inc., the bank holding company for First Southern Bank, and The Bank of Carbondale, completed a strategic alliance today, bringing two of the top community banks in southern Illinois together. As a result of the transaction, The Bank of Carbondale is now owned by Midwest Community Bancshares, Inc. and it is anticipated that it will be merged into First Southern Bank effective July 1, 2022.
“We are excited to announce that The Bank of Carbondale is now part of Midwest Community Bancshares, Inc., the bank holding company of First Southern Bank. The Bank of Carbondale and the Bleyer family have always been dedicated to the growth and well- being of the southern Illinois region. The Bank of Carbondale’s philosophy of being a locally owned community bank, with high level customer service blends very well with our own business model. Both organizations take great pride in taking care of our customers and giving back to our communities,” said John Dosier, President and CEO of First Southern Bank.
“When looking for a strategic alliance, the Shareholders and the Board of Directors of The Bank of Carbondale placed a top priority on the future of our customers and our employees. We are pleased that we are now part of Midwest Community Bancshares, Inc., the bank holding company of First Southern Bank, an organization that shares the same philosophy to Southern Illinois as The Bank of Carbondale,” said Bob Bleyer, President and CEO of The Bank of Carbondale.
Dutch Doelitzsch, Chairman of Midwest stated, “With combined assets of over $1 Billion we have the size, strength, and security to meet the growing needs of this area.” As previously stated “We are retaining all officers and employees at The Bank of Carbondale and welcome them to our First Southern Bank team,” added Dosier.
Hovde Group, LLC acted as financial advisor and Reinhart Boerner Van Deuren S.C. served as legal advisor to The Carbondale Investment Corporation, while Armstrong Teasdale LLP served as legal advisor to Midwest Community Bancshares, Inc.
About Midwest Community Bancshares, Inc. and First Southern Bank
Midwest Community Bancshares, Inc. is the bank holding company of First Southern Bank, an Illinois state- chartered bank headquartered in Marion, Illinois. First Southern Bank has assets of approximately $803 million as of March 31, 2022 and currently operates from various locations throughout southern Illinois. The Bank of Carbondale has assets of approximately $284 million as of March 31, 2022. To learn more about First Southern Bank, please visit our website: https:// www.firstsouthernbank.net.
CONTACTS:
First Southern Bank
John Dosier, President/CEO
618-549-3621
[email protected]
