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April 2, 2019
HomeStar Bank & Financial Services is pleased to announce that we will be joining forces with Midland States Bank. We are proud of HomeStar's commitment to the community for over 70 years. The last few years have been very productive for HomeStar, especially with the introduction of a new line of business focusing on small business lending. This, coupled with the strong and growing local economy, prompted HomeStar’s owners to conclude that it is the right time to join forces with a larger partner. We especially wanted to make sure HomeStar partnered with a bank that has the same type of community-focused, customer service oriented philosophy that has defined HomeStar.
We are excited about the opportunity for Midland to expand its presence here in Kankakee County. Midland is a growing community bank with locations throughout Illinois. They also offer some products and services not available at HomeStar. And with its $5.6 billion balance sheet, Midland has the financial strength to continue to support you, your business and your future growth plans.
Until mid-October, nothing at HomeStar will change. We will continue to operate as HomeStar. We hope you will continue to allow us to serve your banking needs. We will continue to update this article as more information becomes available. If you have any questions, we encourage you to reach out to a HomeStar representative for assistance.
HomeStar Financial Group is partnering with Midland States Bank. This includes the bank, wealth strategies, and trust divisions.
HomeStar Insurance Services and HomeStar Title Company are not part of this transaction. They will continue to be independently owned and continue to operate in their current locations.
Many of our employees will have employment opportunities at Midland. Others have several months to begin their next journey, and will receive support to assist them.
Announcement of Midland partnership.
HomeStar & Midland issue joint press release.
Regulatory applications filed.
Expect the deal to close sometime this summer.
HomeStar employees begin training on Midland’s products.
Preparation for a smooth customer integration.
HomeStar customers’ accounts transition to Midland.
Information presented in the HomeStar Resource Center is provided for educational purposes only. HomeStar Bank & Financial Services makes no representations as to the accuracy, completeness, or specific suitability of any information presented. Information provided should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. HomeStar recommends you consult a professional for any specific guidance you are seeking.
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