It was big business news in Catlin this week, with the announcement that Fisher National Bank and Catlin Bank are merging, with Fisher acquiring Catlin subject to customary approvals. Fisher National Bank has Champaign and Mahomet locations, along with their home base in Fisher, Illinois. Catlin Bank president Jeffrey Fauver says, this is a great match.
AUDIO: We are excited about the prospects of merging with Fisher Bank. They are a very good community bank; been well established since 1955. Our cultures match up really well.
PLEASE SEE PRESS RELEASE FOR ADDITIONAL INFORMATION:
Fisher Bancorp, Inc. Agrees to Acquire Butler Point, Inc.
October 11, 2022–Fisher, Illinoisbased Fisher Bancorp, Inc.(“Fisher”), parent of The Fisher National Bank,and Catlin, Illinoisbased Butler Point, Inc., the holding company ofCatlin Bank (together “Catlin”), jointly announced today that they have entered into an agreement and plan of merger whereby Fisher will acquire Catlin subject to customary regulatory and other approvals.
Upon consummation of the proposed transaction, Fisher will enter the Vermillion County marketvia Catlin’s locations in Catlin, IL and Georgetown, IL. On a pro forma basis, Fisherwill have fivefull-servicebanking branches and total assets of approximately $293million, based on data as of June 30, 2022.
“Our companies share similar values, and our partnership willreinforce the foundation for an extraordinary community bank that puts our customers, employees, andcommunities first. We look forward to entering a new market that is a logical extension ofour existing operations”remarkedMike Estes, Chairman of TheFisher National Bank. Jeff Fauver, current President of Catlin Bank, will be the Catlin Community President along with being on the Board of Directors for Fisher National Bank. In addition, Shanna Fisher will continue her role as Vice President of Lending. Ryan Heiser, current CEO of The Fisher National Bank will continue in that capacity as he leads the entire organization. “We feel Catlin is a great fit for us and we look forward to working with Jeff and his entire staff” stated Heiser.
“We are proud and excited to partner with The Fisher National Bank and believe their acquisition to be an excellent fit,”commentedJeff Fauver. “Being part of a larger banking company that shares our same customer-first focus will allow us to better provide competitive products and services to our customers while remaining actively involved in our community.”
The acquisition, which is subject to customary closing conditions, is expected to be completed in the first quarter of 2023.
Olsen Palmer LLC served as financial advisor to Catlin Bank while Godfrey Kahn, S.C. served as legal advisor. Brown, Hay & Stephens, LLPserved as the legal advisor to Fisher Bancorp, Inc.
About Fisher Bancorp, Inc.
Fisher Bancorp, Inc. is the bank holding company for The Fisher National Bank, a commercial bank based in Fisher, Illinois. The Fisher National Bank was founded in 1955 and operates three (3) full-service branch offices, located in Fisher, IL; Mahomet, IL; and Champaign, IL. As of June 30, 2022,The Fisher National Bankhad total assets of approximately $208million. For more information onThe Fisher National Bank, please visit www.fishernational.com.
About Butler Point, Inc.
Butler Point, Inc. is the bank holding company for Catlin Bank, a commercial bank based in Catlin, Illinois. Catlin Bank was founded in 1904 and operates two (2) full-service branch offices, located in Catlin, IL and Georgetown, IL. As of June 30, 2022, Catlin bank had total assets of approximately $84 million. For more information onCatlin Bank, please visit www.catlinbank.com
