BREAKING: CNB Bank & Trust announcing purchase of Jacksonville Savings Bank

By Blake Schnitker on January 18 at 7:49am

The merger of two banking groups has resulted in one Jacksonville bank purchasing another large local bank.

CNB is announcing that the Directors of Jacksonville Savings Bank has approved the sale of Jacksonville Savings Bank to Carlinville National Bank Shares Inc.

According to a press release from the two organizations, CNB Bank Shares, Inc. and Jacksonville Bancorp, Inc. are jointly announcing that they have entered into a definitive merger agreement in which Jacksonville Bancorp will merge with and into CNB Shares.

This merger also means that Jacksonville Savings Bank, the wholly-owned subsidiary of Jacksonville Bancorp, will merge with and into CNB Bank & Trust, the wholly-owned subsidiary of CNB Shares.