TERRE HAUTE, Ind. (WTWO/WAWV) — A local bank is expanding into Illinois after agreeing to merge with a Danville banking location.
The Hometown Savings Bank announced the merger Tuesday, They will be integrating First Savings Bank of Danville. A merger agreement has been signed and is expected to be approved by banking regulators in the third quarter of 2022.
First Savings Bank is excited about becoming part of The Hometown Savings Bank. We share the same hometown values, in our case going back to our founding in 1880. Our being merged into THSB will allow us to provide a wider array of services and products to our customers as we continue to focus on our community.Mark Garrett, President and CEO of FSB
Garrett will become Senior Vice President of THSB and will work out of the Danville location along with FSB’s current employees. The FSB Board of Directors will serve in a new capacity as an advisory board for the Danville and Vermilion County market.
THSB, founded in Terre Haute in 1869, recently changed its name from Terre Haute Savings Bank to The Hometown Savings Bank.