Lane & Waterman represents Galva Investment, Inc. in Franklin Bank Acquisition
Lane & Waterman attorneys Joseph C. Judge and Rian D. Waterman represented Galva Investment, Inc., the parent company of Community State Bank, in connection with its anticipated acquisition of Franklin Bancshares, Inc., the parent company of Franklin Bank. It is anticipated that the transaction will be completed in the third quarter of 2015, pending regulatory approval and other customary closing conditions. Following closing, Franklin Bank will become a branch of Community State Bank.
Franklin Bank, with total assets of approximately $43 million, operates at one banking office in Franklin, Illinois. Community State Bank has approximately $155 million worth of assets at branches in Galva, Kewannee and Neponset. A loan production office has also been established in Waverly.
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