This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Town And Country Financial Corporation Announces Its Two Bank Subsidiaries Becoming One

















SPRINGFIELD, Ill., Feb. 15, 2012 /PRNewswire/ -- Town and Country Financial Corporation (TWCF) announced today that its two banking units—Logan County Bank and Town and Country Bank—will be connected later this year to form one, strong community bank charter under the Town and Country Bank name.  The combined banks have a total of 10 banking offices in Lincoln, Buffalo, Springfield, Decatur, Forsyth, and Mt. Zion.  The combination is tentatively scheduled for the fourth quarter of 2012, and there are no changes to the management and staff at either bank.

Logan County Bank has been a wholly owned subsidiary of Town and Country Financial Corporation since 1985.  This change represents a joining of two sister banks that have been operated within the same company for nearly 30 years.  Both banks are celebrating their 50th anniversary in 2012, and the Buffalo location is celebrating its 100th anniversary. 

Commenting on the announcement, Micah R. Bartlett, President & CEO of Town and Country Financial Corporation said, "The time was right for us to connect our two banks to form an even stronger banking franchise in Central Illinois.  We will be able to leverage the strengths of both organizations to better serve all of our customers and offer expanded products and convenience in all of our communities."  He added, "Together with our pending acquisition of a $65 million branch in Quincy, Illinois, this represents a major advancement in the progress of our company."

Both banks recently announced financial results for 2011, reflecting strong balance sheets and performance.  Logan County Bank reported profits of $906 thousand, up 12% from the prior year with total risk-based capital of 16.1%.  Town and Country Bank reported profits of $2.6 million, up 23% from the prior year with total risk-based capital of 15.9%.  On a combined basis, the banks have total capital of over $46 million and total assets of approximately $380 million.

Brian Ash, President & CEO of Logan County Bank, stated, "At least one key focus will be expanding the agricultural expertise of Logan County Bank into Sangamon, Macon, and the surrounding counties as well.  Our banks are very strong financially, and by joining forces we are able to more easily serve a larger and more diverse set of customer needs.  We are focused on providing even more loans and other services in our local communities."

Town and Country Financial Corporation is the parent holding company for Town and Country Bank, Town & Country Banc Mortgage Services, Inc. and Logan County Bank.  The company provides comprehensive lines of retail, commercial, agricultural, and mortgage banking as well as trust and investment services to families, businesses, and organizations.  Town and Country Financial Corporation shares are traded under the symbol TWCF.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs