Riverside Community Bank revealed Tuesday that it will certainly change its name to Illinois Bank & Trust to show a merger with Galena State Bank.

Both banks are subsidiaries of Heartland Financial USA Inc., a $5.9 billion multi-bank holding company based in Dubuque, Iowa.

Riverside has 4 Rockford areas and added offices in Sterling, Seaton and Rock Falls. Galena State Bank has 4 branches - 2 in Galena as well as one each in Elizabeth as well as Stockton.

The new Illinois bank & Trust will proceed serving northwest and western central Illinois from 11 locations with combined properties of more than $800 million.

The name modification will work in November at Riverside bank divisions and also in January for the Galena locations. Riverside Head of state and Chief Executive Officer Steven Ward said the new name will certainly join both bodies and also offer customers under a common brand, fostering opportunities to expand the bank's existence in Illinois.

'As the banking industry has actually experienced continued combination, it has actually been the target of our moms and dad business, Heartland Financial USA, Inc., to run one financial institution charter per state to much better serve our customers and also expand right into brand-new market areas,' Ward said.

'As a result of our banks' effective development in Illinois, we are in a position to broaden our impact in the state,' he claimed. 'Though the name is new, our business techniques as well as principles will remain the same. Our attributes of financial toughness and value-added solutions, incorporated with our development and lengthy ancestry in the state of Illinois, all cause this adjustment.'

In March, Heartland Financial USA acquired Liberty Bank's 3 branches in Sterling, Stone Falls and Seaton and also combined them with Riverside Community Bank, which has steadily grown its industrial and also retail banking, domestic home loan, wealth management as well as investment solution company, Ward said.

'Over the last 6years, Riverside has actually increased in size in terms of our assets,' Ward said. 'Most that has actually been natural development as well as we expect in the future that natural development to proceed.'

Riverside had $334.2 million in local bank down payments since June 30, 2013, according to an FDIC report released in 2012. That made the bank the 5th biggest in terms of deposits in the Rockford metropolitan area, which consists of Winnebago, Boone, Ogle and also Stephenson counties.

The FDIC reported that Galena State bank had $245.3 million in local bank deposits in 2012-- the biggest market share amongst Bank's in Jo Daviess County. The FDIC will release a report following month that updates local bank down payments since June 30, 2014.