AmeriNational Community Services in Albert Lea, Minnesota, has applied to buy Northwest Bancorp. of Illinois in Palatine. AmeriNational, an economic development and affordable housing loan servicer, applied with the Federal Reserve to form a bank holding company to buy the parent of the $208 million-asset First Bank and Trust Co. of Illinois.
Orrstown Financial Services in Shippensburg, Pennsylvania, has agreed to buy Codorus Valley Bancorp in York, Pennsylvania. The $3.1 billion-asset Orrstown said in a press release that it will pay $207 million in stock for the $2.2 billion-asset Codorus Valley. The deal is expected to close in the third quarter.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.