Western Illinois Bancshares Inc Expands Portfolio with Acquisition

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Western Illinois Bancshares, Inc. (WIBI), a diversified financial services holding company, is
pleased to announce they have entered into an agreement to purchase the prominent full
service tax and accounting firm of Matthew S. Anderson, CPA. This strategic acquisition marks
another significant milestone in WIBI’s growth and expansion strategy.

Matthew S. Anderson, CPA will operate as a subsidiary of Western Illinois Bancshares, Inc.
maintaining the firm’s existing brand identity and leadership team. With over 35 years of
experience, Matthew Anderson has built a strong reputation in providing comprehensive
accounting, tax and consulting solutions to both businesses and individuals.

“We are excited about the opportunities that lie ahead,” said Chris Gavin, President of Western
Illinois Bancshares, Inc. “This acquisition aligns seamlessly with our strategic vision of expanding
our footprint in the financial services sector. By integrating Mr. Anderson’s expertise and
capabilities, we can offer customers an even more comprehensive suite of financial solutions
tailored to their unique needs.”

Matt and his wife, Kathleen, are lifelong Quad Cities residents, graduates of Augustana College
and currently reside in Rock Island, Illinois where they enjoy spending time with their four
children and grandchildren. Matt joined the firm in 1998 and purchased the practice in 2007.

“I am looking forward to partnering with the Western Illinois Bancshares, Inc. team and
continuing to provide a high standard of service to current and new clients,” stated Matt
Anderson.

With this acquisition, WIBI further diversifies its offerings leveraging synergies across its existing
companies which include Midwest Bank, Midwest Bank Wealth Management and Porter-Hay
Insurance. By combining the strengths of each entity, WIBI aims to deliver enhanced value to
customers.

For more information about Western Illinois Bancshares, Inc. and its services, please visit
www.westernilbancshares.com.

***Courtesy of Midwest Bank***

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