BankORION to Purchase Aledo Branch of THE National Bank

Staff Writer
Aledo Times Record

BankORION plans to acquire the Aledo branch of THE National Bank, which includes $70 million in deposits and several thousand customers.  The announcement was made jointly by James Dingman, BankORION President & CEO and John DeDoncker, President & CEO of  THE National Bank.  The transaction is subject to the approval of Federal and State banking regulators and is expected to be completed during December 2011.   

Dingman stated “BankORION is extremely pleased to have this opportunity to serve the Aledo market.  The community fits BankORION’s business model perfectly.  We look forward to continuing the high quality and competitively priced service Aledo customers are accustomed to and the addition of some new products as well.  This includes our flagship product, Rewards Checking.  Our team’s goal is to exceed the customer’s expectations with every interaction and we plan to practice this philosophy in Aledo as well.”

DeDoncker noted “The Board of Directors of THE National Bank is very pleased that the ownership of the bank will remain with an independent and locally-owned institution.    We feel that our customer base and staff will be well served by BankORION.”

Celebrating 121 years of service, BankORION is the oldest bank headquartered in Henry County and the third oldest in the greater QC area.  It maintains offices in Orion, Cambridge, Annawan and Moline. “This long and stable history has allowed BankORION to grow to $330 million in assets and approximately 75 employees.  We consider BankORION to be a very good corporate citizen in the communities we serve” Dingman emphasized.   “We try to maintain a high profile in economic development as well as in civic activities and we have every intention of doing the same in Aledo.”