On November 1, 2018, Athens Bancorp, Inc., parent of Athens State Bank (collectively, “Athens”) and NBP Financial Services, Inc., parent of National Bank of Petersburg (collectively, “NBP”) completed their previously announced merger. On May 16, 2018 Athens entered into an Agreement and Plan of Merger (the “Agreement”) with NBP and NBP Acquisition, Inc. Under the terms of the Agreement, NBP would be merged with and into Athens with the resulting entity being named AC Bancorp, Inc., and National Bank of Petersburg merging with and into Athens State Bank, with the resulting bank operating as Alliance Community Bank (“Alliance”).
Alliance will operate under the Athens State Bank's charter but will be headquartered at National Bank of Petersburg's current main office at 321 N. Sixth St., in Petersburg, IL. Alliance's directors and senior executive officers will consist of a combination of the current directors and senior executive officers of Athens State Bank and National Bank of Petersburg.
Upon merger completion, Athens State Bank's branch at 420 E. Sangamon Ave., Petersburg, IL, will be closed. Its main office and two other branches will remain open. National Bank of Petersburg's other location, at 422 South Sixth St. in Petersburg, will also be closed.
ATHENS BANCORP, INC.
Athens is a registered bank holding company whose principal subsidiary is Athens State Bank. Athens is headquartered in Athens, IL, and has a total of 4 branch locations in Menard and Sangamon counties, with two additional facilities including an LPO in the surrounding markets. As of June 30, 2018, Athens State Bank had total assets of $132.0 million, total loans of $76.4 million, and total deposits of $117.3 million.
NBP FINANCIAL SERVICES, INC.
NBP is a registered bank holding company whose principal subsidiary company is National Bank of Petersburg. NBP is headquartered in Petersburg, IL, and has 2 branch locations in Petersburg, IL. As of June 30, 2018, National Bank of Petersburg had total assets of $150.6 million, total loans of $74.1 million, and total deposits of $135.1 million.