PRINCETON — Citizens First National Bank was closed late Friday afternoon by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. According to the FDIC, in order to protect the depositors of Citizens, the FDIC entered into a purchase and assumption agreement with Heartland Bank and Trust Co. of Bloomington to assume all of the deposits of Citizens First National Bank.

According to the release: “The 21 branches of Citizens First National Bank will reopen Saturday as branches of Heartland Bank and Trust Co. Depositors of Citizens First National Bank will automatically become depositors of Heartland Bank and Trust Co. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits.”

The FDIC said customers of Citizens First National Bank should continue to use their existing branch until they receive notice from Heartland Bank and Trust Co. that it has completed systems changes to allow other Heartland Bank and Trust Co. branches to process their accounts.