Peoples Bancorp, Newton, Ill., is acquiring Bancorp of Rantoul, Ill..The deal, expected to close in the fourth quarter, will result in a combined bank with $950 million in assets, $800 million in deposits and $630 million in total loans. Bancorp of Rantoul is the parent company of Bank of Rantoul. The bank has $283 million in assets, $225 million in deposits and $100 million in net loans and leases. Peoples Bancorp is the holding company of Peoples State Bank of Newton, Ill. As of April, the bank had $728 million in assets, $575 million in deposits and $494 million in net loans and leases. The price of the deal has not been disclosed. Rantoul Chair and co-CEO Denny Long will join the combined bank as central market CEO. Craig Rogers will join as market president. Olsen Palmer LLC, Washington, D.C., was financial advisor to the Bancorp of Rantoul.
