Last week, Midwest Bank announced a merger with Andalusia Community Bank. Terri Hippen, Vice President of Marketing and HR, broke down the acquisition:
“We’re hoping to finalize everything by year end so that’s pretty exciting. We’ve already made an announcement a while back about entering the Peoria market with a location there. We’re going to start remodeling I believe at the end of October an existing building in Peoria, so the footprint of Midwest Bank is expanding,” she said.
The move gives Midwest Bank a presence in the Quad City Area, a broader range of products and services, expanded electronic banking and card services, among other benefits. The bank currently has seven banking locations in four counties, three insurance offices, and loan origination offices in Peoria and the Quad Cities. The total asset size of Midwest Bank following the completion of the consolidation will be approximately $500 million.
On top of the merger, Hippen talked about some of the helpful features which are included with Midwest Bank’s mobile banking apps:
“One thing that can help prevent some of the scams are some of the apps that we have on our Mobile Banking. We have the Shazam Bolt, which will notify you if there is anything unusual happening on your account or you can set limits like notify me if a transaction is over a certain amount. Also, we now have Mobile Wallet. So you can have your debit card or your credit card right in your phone – either the Apple product or the Samsung product,” Hippen said.
To hear more from Hippen, click on the link below:
written by Jackson Kane