THE FOLLOWING IS A SERVBANK RELEASE
Watseka-Ill. — As Iroquois Federal and Servbank move toward the completion of the acquisition this month, Iroquois Federal Board Chairman and Chief Executive Officer Walter H. “Chip” Hasselbring III has been named to the Servbank Board of Directors.
Hasselbring’s appointment reflects the shared commitment of both organizations to strong governance, community leadership, and maintaining a meaningful local voice as the two institutions come together. With decades of experience serving customers and communities across central Illinois, Hasselbring will bring valuable perspective to Servbank’s board as the combined organization looks ahead.
“I am truly honored to join the Servbank Board of Directors and grateful for the trust placed in me during this important time,” said Walter H. ‘Chip’ Hasselbring III, Chairman and CEO of Iroquois Federal. “Iroquois Federal has always been deeply rooted in the communities we serve, and I look forward to bringing that local perspective to Servbank’s board. As we move forward together, I am committed to ensuring the voices of our customers, employees, and communities continue to be heard and represented at the highest level, while preserving the strong local leadership that has long defined Iroquois Federal.”
We are pleased to welcome Walter “Chip” Hasselbring III to the Servbank Board of Directors,” said Stavros Papastavrou, Board Chairman of Servbank. Mr. Hasselbring’s appointment to the Servbank board reflects our commitment to preserving strong local leadership and community connection,” said Papastavrou. “His longstanding dedication to customers, employees, and the communities served by Iroquois Federal adds an important perspective as we continue building a strong, forward‑looking organization together.
The acquisition brings together two organizations with Illinois roots and a shared focus on service, innovation, and long‑term community impact.
Iroquois Federal Savings and Loan Association headquartered in Watseka , Illinois and Servbank, N.A. headquartered in Oswego, Illinois have entered into a definitive agreement under which Servbank, N.A. will acquire Iroquois Federal Savings and Loan Association. The transaction is expected to close on March 12, 2026. Until this transaction is completed, the institutions will continue to operate as separate, independent banks.
Servbank N.A. NMLS #203463. Equal Housing Lender. Member FDIC.
Iroquois Federal Savings and Loan Association NMLS #472172 . Equal Housing Lender. Member FDIC.
