The merger between Marine Bank and Morton Community Bank concluded earlier this month; As a result, Morton Community Bank has expanded its presence by incorporating ten additional locations. All former Marine Bank branches have been rebranded as Clock Tower Community Bank, a Division of Morton Community Bank.
Through Morton Community Bank's Employee Stock Ownership Plan (ESOP), Marine Bank employees have the opportunity to become owners of the bank. The transition from "family-owned and operated" to "employee-owned and operated" ensures the continuation of community banking services for customers and local businesses.
Jon Erickson, Market President for Clock Tower Community Bank in Springfield, emphasized the benefits for customers. Marine Bank customers will now be served by community bank owners, further enhancing the commitment to customer service.
Andy Honegger, President of Morton Community Bank, expressed optimism about the future. Clock Tower Community Bank will offer a "hometown" community banking experience with efficient services. Commercial customers will benefit from a skilled team of lenders and treasury-management professionals, strengthening the bank.
Founded in 1960, Morton Community Bank has prioritized exceptional banking services and strategic acquisitions. Clock Tower Community Bank now operates 55 locations across 38 communities in Central and Northwest Illinois, with $5.6 billion in assets.