Merger of Marine Bank and Morton Community Bank completed June 9

The merger of Marine Bank into Morton Community Bank was completed on June 9. All Marine Bank locations are now branded as Clock Tower Community Bank, a Division of Morton Community Bank, including banking facilities in Springfield, Chatham, Rushville, Macomb, Bloomington-Normal and Champaign. The acquisition added 10 locations to the footprint of Morton Community Bank.

Jon Erickson, market president for Clock Tower Community Bank in Springfield, noted the benefit to the bank’s customers. “Marine Bank customers are accustomed to being served by community bankers. As a result of the merger, they will now be served by community bank-owners -- and our commitment to excellence in customer service will grow even stronger.”

Marine Bank employees have the opportunity to become owners of the bank through Morton Community Bank’s Employee Stock Ownership Plan (ESOP). Officials from both banks noted that Marine is transitioning from family-owned and operated to employee-owned and operated.

Andy Honegger, president of Morton Community Bank, said, “Marine Bank customers will enjoy our ‘hometown’ community banking experience, with friendly, efficient banking services. Commercial customers will benefit from our talented team of lenders and treasury-management professionals, and the added size and strength of our bank.”

Morton Community Bank was organized by a group of Morton businesspeople to better serve the community and its businesses. MCB opened its in 1961 with a single location in Morton and seven employees. Since the late 1980s, MCB has completed 23 acquisitions. Today, with the addition of Marine Bank, MCB has 55 locations in 38 communities in central and northwest Illinois, with 600 employees and $5.6 billion in assets.