Heartland to combine Illinois charters

Heartland Financial USA, Dubuque, Iowa, plans to merge and rebrand its two Illinois subsidiaries..The charters for Riverside Community Bank, Rockford, Ill., and Galena State Bank & Trust, Galena, Ill., are expected to merge in January, and the combined bank will operate as Illinois Bank & Trust..Riverside locations will see the new name and logo beginning in November while Galena locations will be rebranded in January..The combined bank will serve northwestern and west central Illinois from 11 locations with more than $800 million in assets..Currently, the $506 million Riverside serves the Rockford market from four locations with additional offices in Sterling, Seaton and Rock Falls, Ill. The $297 million Galena State has two locations in Galena, with additional offices in Elizabeth and Stockton, Ill.."As the banking industry has experienced continued consolidation, it has been the goal of our parent company, Heartland Financial USA, Inc., to operate one bank charter per state to better serve our customers and expand into new market areas," said Lynn Fuller, Heartland chair, president and CEO. "As a result of our banks' successful growth in Illinois, we are in a position to expand our footprint in the state. Though the name is new, our business practices and principles will remain the same.".The $5.9 billion Heartland has 77 banking locations in 57 communities in Iowa, Illinois, Wisconsin, New Mexico, Arizona, Montana, Colorado, Minnesota, Kansas and Missouri and loan production offices in California, Nevada, Wyoming, Idaho, North Dakota, Oregon, Washington and Nebraska.