TS Banking Group Acquires Illinois Bank
Jan. 3, 2017, Treynor, Iowa - TS Banking Group has officially acquired the First National Bank and Trust Company of Clinton, Ill. with banking assets of 110 million and 105 million in trust assets.
TS Banking Group is a joint venture between Treynor Bancshares, Inc., the bank holding company of Treynor State Bank (TS Bank), with banking assets of $430 million, and TS Contrarian Bancshares, Inc., the bank holding company of The Bank of Tioga (North Dakota), with banking assets of $330 million. TS Banking Group is headquartered in Treynor, Iowa, that is located in the Omaha, Neb. MSA.
TS Banking Group believes that through the creation of a multi-bank operating group TSBG can provide a high level of technology, risk management, and financial management to each community it serves while maintaining a community bank approach. It is TSBG’s main priority to preserve the“local touch”at each community bank by allowing the acquired bank to focus their efforts on serving their clients and communities where they are located.
“First National Bank and Trust shares many of the same qualities and values of TS Banking Group, which makes this a great fit for both organizations,” commented Joshua M. Guttau, TS Banking Group CEO.
First National Bank and Trust Company will retain its name and national charter withTS Banking Group assisting in the development of leading-edge banking technology for clients. An operational conversion will take place in June, that will include an updated website, online banking platform, mobile banking app, person to person mobile payments, mobile deposit capture, as well as remote deposit capture and cash management services for business clients. Additionally, TS Banking Group will provide Fiduciary Care and Investment Risk Management services with its new division, TS Prosperity Group.
There will be communication with clients in the future prior to any changes that will be made related to their current accounts, such as how to handle old check stock, debit cards, and internet banking logins.
“As we reviewed potential merger candidates, we purposely approached TS Banking Group. Based on their track record of giving back to the community, their financial literacy programs for schools, and being a family-owned and managed banking group, it gave us confidence in the culture and integrity of the company.” Said John M. Killian, President and CEO. “TS Banking Group is a very good fit for our bank, our staff, our customers, and the community we serve.”
TS Banking Group: Treynor State Bank was chartered in 1923, branded to TS Bank in 2005, and was the beginnings of the TS Banking Group. TS Banking Group is dedicated to community prosperity and reinvests 10% of their pre-tax net income back to the community. Michael (Mick) K. Guttau is Chairman of the Board and Joshua M. Guttau is CEO.