Buckley Bancorp, Buckley, Ill., is merging into Paxton, Ill.-based Agricultural Banking Corporation..The central Illinois-based parent companies are expected to merge in the fourth quarter. Agricultural Banking Corporation is the parent company of The Frederick Community Bank. Buckley Bancorp is the parent company of Buckley State Bank. The subsidiaries are expected to merge in the second quarter of next year. The combined bank is expected to have $250 million in assets, $225 million in deposits and $125 million in loans. As of March 31, Buckley State Bank had $50 million in assets, $40 million in deposits and $30 million in loans. As of late April, The Frederick Community Bank had $197 million in assets and $176 million in deposits. Dickinson Wright PLLC was legal counsel to Agricultural Banking Corporation and The Frederick Community Bank. Gerrish Smith Tuck PC was legal counsel to Buckley Bancorp and Buckley State Bank.
