Alpine and Midland Banks Present Details on Buyout

Alpine Bank held a press conference discussing Midland buying them out

Rockford - Members of Alpine Bank and Midland States Bank were upbeat about the big change.

The banks have been business partners for ten years before the purchase, which was announced on Monday.  Midland CEO Len Holschbach says they were drawn to the fact that Alpine Bank has been number one in the Rockford marketplace, even while competing against national banks. 

He assures Alpine customers that little will change, but concedes there will be some layoffs.  Alpine Bank's Rob Funderburg adding they will continue to be active in the community.

Funderburg said, "Midland and Alpine are a good fit, and I think that over time in the first quarter or second quarter of 2018, when Midland actually acquires Alpine Bank, you will find that they're just as good a community partner as Alpine Bank."

Alpine Bank has been a significant contributor to local organizations and events.  The sale is expected to close in March next year.

 


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