FDIC Takes Over Citizens First Bank; Plainfield Branch Now Heartland Bank
Takeover was announced Nov. 2; local branches officially became Heartland Banks on Saturday.
Federal regulators have taken over a bank with branches in Plainfield, Minooka and Aurora, according to Crain’s Chicago Business. The FDIC closed Citizens First National Bank, making the Princeton, Illinois-based bank the third institutions with Chicago-area connections to be taken over by the feds. Heartland Bank & Trust announced that it had acquired the assets and assumed the deposits of Citizens First National, including the Plainfield location and 20 other offices. The branches reopened as Heartland Bank on Saturday. “This is an opportunity for us to expand into this market, and carry on the community banking tradition in those communities. We think they will be good markets for Heartland Bank in the long run,” Fred Drake, chairman …
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