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Providence Bank & Trust, The Leaders Bank Complete Merger

May 06, 2022, 07:03 AM
Filed Under: Mergers & Acquisitions

Providence Bank & Trust, along with The Leaders Bank, announced the completion of the previously announced acquisition. The Leaders Bank merged into Providence Bank & Trust.

“We are very pleased that our merger is now official, and we are happy to welcome The Leaders Bank employees and customers to the Providence Bank & Trust family. We are committed to creating a smooth transition for our customers and employees as we work to efficiently combine the bank operations,” said Steve Van Drunen, President and CEO of Providence Bank & Trust.

The conversion and consolidation of data processing platforms, systems and customer files are expected to occur in early June. Until this is complete, The Leaders Bank customers should continue to conduct business at their existing local office in Oak Brook, IL. The closing of the merger results in Providence Bank & Trust, a locally owned and operated community bank, attaining total assets of just over $1.69 billion and operating 15 branches located throughout Chicago, its suburbs and Northwest Indiana.

William Gleason, President of The Leaders Bank, who will be joining the Providence Bank & Trust Board of Directors, said, “When looking for a merger partner, we chose Providence Bank & Trust, who’s strong commitment to their employees, customers and the communities they serve complemented the long-standing culture of The Leaders Bank. As the combined institution, our customers will soon benefit from access to additional banking products and services and an enhanced network of banking capabilities.”

“We look forward to serving The Leaders Bank customers with expanded traditional and digital banking resources and continuing the important community and business relationships that have been formed over the years. As a local community bank, we also look forward to supporting our newest customers in achieving more,” said Drunen.

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