Midland States Bank buys settlement trust business
EFFINGHAM – Midland States Bank has agreed to acquire Securant Bank’s Settlement Trust Group expanding its Wealth Management business line.
The Settlement Trust Group, based in the Milwaukee area, specializes in providing trust administration to clients receiving litigation settlements. The business currently serves a wide range of clients across the United States.
Leon Holschbach, Midland States Bank president and CEO, said, “We look forward to building upon the specialized settlement trust operations Securant has developed. We are impressed with the level of expertise and professionalism of Securant’s settlement trust team, and we welcome them to our organization. An established presence in Milwaukee, a top 50 MSA, presents an expansive variety of opportunities for our company.”
Eric Chojnicki, president of Midland Wealth Management, said, “We are excited to add this specialized trust group to our team. This is a talented group of professionals that will compliment our team and allow us to expand our service offering throughout our footprint and beyond.”
Midland Wealth Management will approach $1 billion in assets under administration with the inclusion of the Settlement Trust acquisition.