Creve Coeur, Missouri: Dieterich Bank Completes the Acquisition of Five Illinois Branches from First Bank.
Effingham, IL (August 10, 2020) - Dieterich Bank of Effingham, Illinois, announced today that it has completed its acquisition of five Illinois branches from First Bank, Creve Coeur, Missouri. The branch offices are located in Breese, Chester, Columbia, Red Bud and Waterloo, Illinois.
Dieterich Bank assets as of the end of June were $844 million. The acquisition increases Dieterich Bank assets to just over $1 billion and brings its number of banking locations from nine to fourteen. “The addition of these five branches allows the bank to expand its presence in the Metro East market and aligns with the bank’s strategic initiative and community banking culture. We welcome these new customers, employees, and communities into our Dieterich Bank family” said Chuck Deters, CEO of Dieterich Bank. “We are confident the new customers will value our products and level of service, and that the communities will appreciate our presence. The bank will also capitalize on the synergies of the acquisition to create strong value for our shareholders”.
About Dieterich Bank
Dieterich Bank was chartered in 1909 and has since grown into a $1 billion community bank with 13 locations and over 170 employees. The bank provides financial services through a network of banking centers in Illinois and a loan production office in South County St. Louis, Missouri.