Springfield, MO, Nov. 24, 2020 (GLOBE NEWSWIRE) -- BKD Capital Advisors (BKDCA) is pleased to announce that First Illinois Bancorp, Inc. (First Illinois), the holding company of Lindell Bank & Trust Company (Lindell Bank), and Rockwood Bancshares, Inc. (Rockwood), the holding company of Rockwood Bank, have completed a merger in which Rockwood has become a wholly owned subsidiary of First Illinois. BKDCA served as the exclusive financial advisor to Rockwood in this transaction.
With the merger complete, Rockwood Bank is expected to consolidate into Lindell Bank and begin operation under the Lindell Bank name in the second quarter of 2021.
Lindell Bank and Rockwood Bank share a proud heritage of serving local communities. Lindell Bank serves its customers through 12 banking facilities across Missouri and Illinois. Rockwood serves its customers through four facilities in Missouri. Currently, Lindell Bank has total assets of approximately $540 million, Rockwood Bank has total assets of approximately $270 million and the combined banking organization will have total assets in excess of $800 million.
Rockwood sought a capital advisor to help secure its future growth. Ultimately, Lindell Bank was selected as the ideal choice for Rockwood Bank as both organizations have a strong commitment to customer service and this acquisition will help provide additional conveniences, products and services to the communities Rockwood Bank serves.
Polsinelli PC served as legal advisor to Rockwood in this transaction. Lewis Rice LLC served as legal advisor to First Illinois in this transaction.
For more information about the transaction, please contact BKD Trusted Advisor™ Wyatt Jenkins at 417.234.0320 or wjenkins@bkd.com.
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BKD Capital Advisors
Founded in 1994, BKD Capital Advisors, LLC, a wholly owned subsidiary of BKD, LLP, is a leading investment banking firm providing merger and acquisition, capital formation and strategic advisory services to middle-market companies. BKD Capital Advisors has offices in four cities in the U.S., including Chicago, Denver, Indianapolis and Springfield, Missouri. BKD Capital Advisors is a member of FINRA and SIPC.