September 25, 2020

On September 23, 2020, Heritage State Bank, an Illinois-chartered commercial bank and wholly owned subsidiary of HBancorporation, Inc., Lawrenceville, Illinois, announced the signing of a definitive merger agreement with The First National Bank of Carmi, a national banking association and wholly owned subsidiary of Southern Illinois Bancorp, Inc., Carmi, Illinois, pursuant to which Heritage State Bank will merge with and into The First National Bank of Carmi.

Luse Gorman is serving as legal counsel to Heritage State Bank in the transaction.  The Luse Gorman team consists of Gary A. Lax, Michael J. Brown and Max Seltzer.

Luse Gorman has served as counsel on more than 100 financial institution mergers and acquisitions during the past five years, which is more than any other legal advisor during that time period. To learn more about our mergers and acquisitions practice, please visit our website.