Legence Bank, a wholly-owned subsidiary of the holding company First Eldorado Bancshares, Inc. in Eldorado, IL, signed an agreement this week to purchase the deposits and facilities of two Southern Illinois bank branches from Old National Bancorp’s banking subsidiary, Old National Bank  for an undisclosed sum, pending regulatory approval and the satisfaction of customary closing conditions. The Old National Bank branches, located in Shawneetown and in Vienna, have over $46 million in deposits that will be included in the transaction (based on August 10 deposit balances) .

The acquisition and conversion are expected to be complete in early 2013 and will bring Legence Bank’s assets to over $293 million.

“Both the Shawneetown and Vienna branches are located in county seats contiguous to Legence Bank’s home county seat of Saline County, which makes this acquisition another strong expansion and great fit demographically for our long-term customer service, business development and market growth strategies,” said Martin B. Rowe, President and CEO of First Eldorado Bancshares, Inc. and a Legence Bank co-owner.