MCB announces new merger

Staff Writer
Morton Times-News

CSBC Financial Corp. and its subsidiary, Citizens State Bank of Cropsey and Hometown Community Bancorp Inc., and its subsidiary Morton Community Bank Boards of Directors announce that Citizens State Bank of Cropsey will merge with Morton Community Bank. The date for the anticipated merger is Dec. 10 with full services being offered through Morton Community Bank Dec. 13, 2010.

The shareholders of CSBC Financial Corporation approved the merger of the companies at their stockholder meeting Ot. 21 and regulatory approval is anticipated before the end of October.

“This merger shows our strong confidence in community banking and we truly believe in the potential for a good economy for Central Illinois” said Gordon Honegger, co-chairman of Hometown Community Bancorp.

Jean Ann Honegger, co-CEO/co-chairman of Morton Community Bank said, “We are very proud and honored to have the opportunity to return to the Fairbury, Cropsey and Forrest area where Gordon and I grew up. My family was in business in Forrest for many years and the Honegger roots were well founded in agriculture with Honegger Feed Company in Fairbury and Honegger Hatchery in Forrest.”  

“I am happy that our family Bank is now offering Banking services to our hometown community where we all started,” said Jerry Honegger of Forrest and director at Hometown Community Bancorp Inc.

“Morton Community Bank is a great community bank opportunity for the customers, employees and the community. Morton  Community Bank has a strong commitment to working as a community bank and serving the customers in a very personal way. Nothing will change — customers will be working with the same staff and the bank will be committed to the community,” said Rick Hiatt, president of Citizens State Bank of Cropsey. Hiatt said that the banking facility will be called the “Fairbury-Cropsey Community Bank,” a division of Morton Community Bank.

“The board of directors of Citizens State Bank of Cropsey recommended this merger to the shareholders as it will increase the lending limits and provide additional bank services, such as diversity of loan products, investment services, trust services and customer travel opportunities,” said Robert Rinkenberger said. The Citizens State Bank of Cropsey was formed in 1918 and added the facility in Fairbury in 1995. Currently the bank has $45 million in assets. Hiatt concluded his remarks by saying, “We are excited to be a part of one of the strongest customer-oriented community banks in central Illinois.”

Gordon announced there will be a ribbon cutting ceremony Dec. 13 with a barbecue. Door prizes will be given away. A $10,000 charitable donation will be made to selected community organizations. Gordon also indicated that the current staff will continue and will become part owners of the bank with its retirement plan. The board of directors will continue as an advisory board with John Strong chairing the board. Gifts will be available for customers with the coupon from their Morton Community Bank Introductory Booklet to be mailed in November.

This merger will bring Hometown Community Bancorp’s (the holding company for all Morton  Community Bank locations) assets to $2.7 billion with 32 Central Illinois offices in 10 mostly rural, agrigultural counties: Tazewell, Woodford, McLean, Mason, Fulton, Marshall, Peoria, Warren, McDonough and Livingston. Current offices are located in Morton, Pekin, Manito, Bartonville, Eureka, Minier, Sunnyland, Washington, Roanoke, Elmwood, Princeville, Farmington, Minonk, Lacon, East Peoria, Peoria, Spring Bay, Toluca, Washburn, Roseville, Macomb, Tremont, Stanford, Fairbury and Cropsey.

Morton Community Bank was founded in 1960. Gordon Honegger joined the bank in 1973.  Jean Ann Honegger joined the bank in 1975. Today Andrew Honegger, son of Gordon and Jean Ann, is co-chairman of the Hometown Community Bancorp Inc. Andrew is also an attorney and partner of Husch Blackwell LLP. Molly Honegger, daughter of Gordon and Jean Ann, is also a director of Hometown Community Bancorp Inc. and a physician. More information about Morton Community Bank is available at www.hometownbanks.com.