Heartland Financial USA announced this week that one of its subsidiaries completed the purchase of an Illinois bank chain in a deal valued at $59.1 million.

Illinois Bank & Trust, headquartered in Rockford, Ill., has acquired Rockford Bank & Trust Co., which has two locations in that city.

With the move, Illinois Bank & Trust now as about $1.3 billion in assets and 10 bank locations, according to a press release from Heartland, which is based in Dubuque.

The release states that Heartland now has about $13 billion in total assets and 118 “full-service” banking locations in 12 states.

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