First National Bank of Pana to buy Blue Mound Bank

First National Bank of Pana, Ill., announced it will buy The State Bank of Blue Mound, Ill..The $143 million First National Bank of Pana has three branches in Pana, Assumption and Taylorville, Ill. The $31 million State Bank of Blue Mound has one office about 25 miles away from Pana..The acquisition will provide a financially strong and well capitalized bank in a better position to respond to future opportunities while building on First National's existing footprint, according to the bank's press release.."I am excited about the opportunity to expand our service area, especially in a community such as Blue Mound that has a population that is committed to using local businesses. Additionally, I am impressed with the Blue Mound staff and believe they have the same commitment to customer service as those at FNB Pana," said Matt Beavers, First National's president and CEO..Subject to shareholder approval, the deal is expected to close in the fourth quarter.