The First National Bank of Allendale and Wabash Savings Bank, the two oldest financial institutions based in Wabash County, are pleased to announce the completion of their purchase and assumption transaction. Wabash Savings was chartered in 1890. The First National Bank of Allendale was chartered in 1906. Wabash Savings customers will now have full access to the banking locations and services offered by The First National Bank. May 12 is the last day of business at the 400 Chestnut location.

The transaction coincides with the retirement announcement of two long-time local bankers: William E. Hackler III, President; and James D. Price, CFO. Hackler joined Wabash in 1987 after 34 years in his family’s retail store in Mt. Carmel. James D. Price ends a 65 year career in banking, having started with Columbian Federal Savings and Loan in 1958, serving as a director of Security Bank and Trust starting in 1974, and holding lending positions with Security and Old National Bank until 2001. Price has been with Wabash Savings Bank for 22 years. Long-term bankers, Rena Howell and Donna Goings will also be retiring.

Donald W. Price, President & CEO of The First National Bank of Allendale expressed enthusiasm for the transaction, stating “We look forward to serving our new and existing clients from Wabash Savings Bank. The combination of Wabash County’s two oldest financial institutions is certainly a historic day. I would like to congratulate Mr. Hackler and my father on their many years of service to this industry, and to our community. I wish them the best in their retirements.”

The First National Bank of Allendale, sole subsidiary of Allendale Bancorp, Inc. is a $365 million in assets community bank headquartered in Allendale, IL. It has locations in Allendale, Mt. Carmel, West Salem, and Carmi.