AmeriNat Approved as Bank Holding Company, Acquires First Bank & Trust

AmeriNational Community Services, LLC (AmeriNat), based in Albert Lea, Minnesota, has secured approval from the Federal Reserve Bank of Chicago to operate as a bank holding company. With additional confirmations from the Federal Deposit Insurance Corporation and the Illinois Department of Financial and Professional Regulation, AmeriNat has acquired 100% of Northwest Bancorporation of Illinois, Inc., the holding company of First Bank & Trust Company of Illinois.

First Bank, located in Palatine, Illinois, manages assets valued at approximately $215 million. Known for its expertise in complex commercial and real estate credits, First Bank will retain its staff of 30 employees. Emad Murrar, CEO of First Bank, expressed enthusiasm about joining the AmeriNat group to expand services.

Adrienne Thorson, CEO of AmeriNat, highlighted nearly five decades of experience in servicing loans and expressed excitement about integrating with First Bank's established team, while retaining successful operations.