SOURCE: MainSource Bank

August 29, 2005 08:46 ET

MainSource Bank Acquires The Madison Bank and Trust Company

GREENSBURG, INDIANA -- (MARKET WIRE) -- August 29, 2005 -- Daryl R. Tressler, Chairman and CEO of MainSource Bank (NASDAQ: MSFG), is pleased to announce the completion of the company's purchase of The Madison Bank and Trust Company of Madison, Indiana, effective August 27, 2005. Madison Bank and Trust previously was a wholly owned subsidiary of Cleveland, Ohio-based National City Corporation (NYSE: NCC). Offices of MainSource and the former Madison Bank and Trust Company have consolidated and will operate as MainSource Bank.

As a result of the transaction, Greensburg, Indiana-based MainSource Bank has assets of approximately $1.4 billion and 50 banking offices in 21 Indiana counties throughout central, eastern, and southern Indiana, providing customers the opportunity to choose from a variety of locations.

Mr. Tressler stated, "This acquisition is a win-win situation for both MainSource's and Madison Bank and Trust's customers and employees. MainSource is truly unique in that we know our customers, yet we have the ability to service accounts of any size. MainSource offers everything from traditional banking services and wealth management to insurance and brokerage products. Therefore, we are the 'MainSource' for financial services for our customers."

In addition, Mr. Tressler noted that this convenience enjoyed by customers can be obtained without sacrificing the level of service that customers expect. Tressler stated, "We are a distinctive organization in that we offer what our customers want and need. We have retained our management and employees and have empowered them to make decisions locally. This acquisition provides us the opportunity to direct more resources to Jefferson and Ohio counties so that our current and new customers can be better served."

James Saner, Sr., President and CEO of MainSource Financial Group, added, "We are committed to local decision-making and we stand firm on our commitment to our community banking philosophy. Our current structure emphasizes regionalized management by local employees, which serves as a cornerstone for MainSource."

MainSource Bank is a subsidiary of MainSource Financial Group, Inc., which is headquartered in Greensburg, Indiana, and is listed on the NASDAQ Stock Market (NASDAQ: MSFG). MainSource Financial Group is a community-focused, multi-bank, financial services holding company with assets of $1.7 billion. Through its three subsidiaries, MainSource Bank, Greensburg, Indiana; MainSource Bank of Illinois, Kankakee, Illinois; and Peoples Trust Company, Linton, Indiana; it operates 55 offices in 23 Indiana counties and six offices in three Illinois counties. Through its non-banking subsidiaries, MainSource Insurance LLC, MainSource Title LLC, and MainSource Mortgage LLC, it provides various related financial services through its banking affiliates.

Contact Information

  • Daryl R. Tressler
    Chairman and CEO
    MainSource Bank