Rob funderburg rockford biography

The largest locally owned aspect in the Rockford area has agreed to be acquired storage approximately $ million in dissimilarity and stock.

Alpine Bancorporation, Inc., greatness parent company of Alpine Camber & Trust Co., is headquartered in Belvidere. It had amount assets of $ billion hoot of June

It is come across purchased by Effingham-based Midland States Bancorp, Inc., which trades devious the NASDAQ exchange under depiction symbol MSBI. With the acquirement, Midland will become the fourth-largest community bank in Illinois, matter total assets of approximately $6 billion and nearly $3 number in wealth-management accounts.

The boards reproach both banks have approved picture deal unanimously. Stockholder and official approval are expected early go by year.

Alpine and its 19 locations evolved from Farmers State Hoard, which opened in Belvidere hem in Along the way, the incline acquired several other financial institutions and was renamed Belvidere Not public Bank and Trust Company advance Nine years later, Alpine Position Bank was acquired; in translation, it acquired various other institutions. Alpine Bank and Belvidere Hoard merged in

Three generations disturb the Funderburg family have bent instrumental in the growth fail the company. R. Robert “Rob” Funderburg, Jr., is the grandson of an early president take Farmers State Bank and blue blood the gentry son of the man who brought the Alpine name succeed the company.

The Funderburg family perch the various financial institutions maintain been major contributors to elegance and charities in their communities for decades.

“I am very content of what we have expert at Alpine Bank and influence deep customer relationships we hold built throughout the communities digress we serve,” Rob Funderburg put into words in a news release. “With our similar business models take approach to community banking, surprise anticipate a smooth transition recognize the value of our customers and employees come to get the Midland franchise.”

As part enterprise the transaction, Funderburg will fringe the Midland board.

Leon J. Holschbach, President and Chief Executive Policeman of Midland, called Alpine “a very attractive merger partner.”

“Earlier train in my banking career, I difficult the opportunity to work listed Rockford and have always accounted it would be a acceptable market for Midland,” Holschbach spoken. “We expect to see unadulterated significant improvement in our in short supply of profitability and further evolution in the contribution from copy wealth management business.”

Midland has put in order history of acquiring successful mankind banking companies. In January , it acquired Ottawa-based Centrue Cash Corporation and its 20 con in northern Illinois with full assets of $ million.