First Secure buys branch from State Bank Group

First Secure Community Bank, Sugar Grove, Ill., will buy a branch from State Bank, Wonder Lake, Ill..The branch, in Morris, Ill., is the only branch of State Bank's outside its home county of McHenry. State Bank acquired the branch as part of its acquisition of the $142 million Harvard Savings Bank, Harvard, Ill., including two other branches, on Aug. 1. The branch had $27, 401 in deposits as of June 30, 2015..The move is part of First Secure Community's plan to expand its presence "into the far west and southwest suburbs" of Chicago. The bank plans to open a branch in neighboring Aurora this fall.."As a community bank, our greatest desire is for our new Morris facility to be a solid member of the Morris community," said First Secure Chairman Jay Bergman, who is also majority owner of the $180 million bank. "The name of the facility, Morris Building and Loan, will continue to be used and all of the current employees have been asked to remain.".The $172 million State Bank will have eight branches following the sale, expected to close in the fourth quarter.