MUSCATINE, Iowa — CBI Bank & Trust announced that its F&M Bank Division, with locations across west-central Illinois, will rebrand under the CBI Bank & Trust name.
In a news release Monday, April 28, CBI said the change is part of a broader initiative to unify branding across all its market areas. F&M Bank and CBI have operated under the same Muscatine-based parent company, Central Bancshares, Inc., since 2002.
F&M Bank operates six offices in Illinois – three in Galesburg, and one each in Monmouth, Brimfield and Peoria. In February of 2021, F&M Bank, then headquartered in Galesburg, was merged into CBI Bank & Trust.
“The decision to unite to one brand is part of a strategic initiative that will help our recognition across our 24 locations in Illinois, Iowa and Wisconsin,” Dwayne Sieck, CEO of CBI Bank & Trust and the president and CEO of Central Bancshares, said in the release. “Becoming one brand, one team is a reflection of our evolving mission, vision and values for our growth in the future.”
CBI Bank & Trust has locations in Muscatine, Washington, Johnson and Scott counties in Eastern Iowa; and in Rock Island, Mercer and Winnebago counties in West-Central Illinois; and in Rock County in Southern Wisconsin.
In 2023, Central Bancshares acquired the former SENB Bank, based in Moline., merging it into CBI.
The acquisition and growth helped CBI Bank & Trust land on the 2024 QCBJ list of the region’s Fastest Growing Companies.
“As always, our commitment to the local communities we serve will continue to be as strong as ever, both in terms of financial support as well as the involvement and leadership provided by our employees,” Mr. Sieck added.
CBI Bank President Bob Howard said the transition to the new brand is expected to take place over the next few months and be completed by the third quarter. “This project will have very little, if any, impact on the clients we serve. We will continue to offer the same great products, systems and services,” he said in the release.
CBI and F&M Bank collectively serve about 50,000 consumers and businesses through 24 branches including in Iowa: Bettendorf, Buffalo, Coralville, Davenport, Kalona, Muscatine, Walcott, Washington, and Wilton; in Illinois: Brimfield, Buffalo Prairie, Galesburg, Joy, Moline, Monmouth, and Peoria; as well as the stateline region (Roscoe/Beloit) of Illinois and Wisconsin. In addition, CBI’s Trust and Investment divisions manage combined client assets of approximately $1.5 billion.
