Greenville, Ill.-based Bradford Bancorp, Inc., is acquiring State Bank of St. Jacob, Ill..The deal is expected to close later this year or in early 2026. Following the acquisition, the $92 million State Bank of St. Jacob will merge into Bradford National Bank, and the combined institution will operate under the Bradford National Bank name.Bradford Bancorp is the parent company of $633 million Bradford National Bank. Founded in 1867, Bradford National Bank has branches in Greenville, Highland, Marine, Centralia, Irvington, Nashville and Breese. Bradford National Bank and State Bank of St. Jacob are both less than an hour northeast of St. Louis, Mo. State Bank of St. Jacob President and CEO Steven Prange said the merger will benefit customers through “enhanced, more diverse financial services” and higher lending limits.Chicago-based Performance Trust Capital Partners advised Bradford Bancorp, while Forvis Mazars advised St. Jacob Bancshares. Legal counsel was provided by Detroit-based Dickinson Wright and Kansas City, Mo.-based Polsinelli, respectively.
