The parent company for First Bank & Trust, Heartland Financial, is acquiring the parent company of AimBank, Aim Bancshares.
The combined bank will operate under the First Bank & Trust brand. The merger will create Heartland's largest bank subsidiary, with almost $3 billion in assets and 33 banking centers.
First Bank CEO Barry Orr says for AimBank customers, it should be business as usual for the next six months. A conversion to First Bank & Trust at those locations will happen later this year.
"We're hoping there's very little interruption, and we stay on top of it and in touch with customers throughout," Orr said. "If there's any issues, we can straighten them out."
The merger is expected to close early in the third quarter of 2020, with a systems conversion planned for the fourth quarter.