Source: First Illinois Corporation via Businesswire.com

First Illinois Corporation has reached an agreement with Archer Daniels Midland Company to acquire a majority interest in Hickory Point Bank & Trust, fsb., a community bank based in Decatur, Ill., with seven branch locations throughout Central Illinois. First Illinois Corporation, also based in Decatur, Ill., is led by current Hickory Point Bank & Trust management and was formed for the sole purpose of acquiring the bank. Terms of the agreement are not being disclosed.

The transaction is subject to regulatory approval and is expected to be completed by June 30, 2011. The bank will retain the Hickory Point Bank & Trust name.

"Hickory Point Bank & Trust is among the most well-respected financial institutions in Central Illinois," said Anthony Nestler, executive vice president, Hickory Point Bank & Trust. "The bank's management team will continue to offer customers the high level of service Hickory Point Bank has provided for years." 

Original news release