Bancorp of Rantoul, Inc. (“Rantoul”), the parent company of Bank of Rantoul, and Peoples Bancorp, Inc. (“Peoples”), the parent company of The Peoples State Bank of Newton, Illinois, jointly announced the signing of a definitive agreement under which Rantoul will merge with and into Peoples in a cash transaction.
Olsen Palmer LLC served as financial advisor to Bancorp of Rantoul, Inc.
With an expected closing date in the fourth quarter of 2026, the pro forma institution is estimated to have approximately $950 million of assets, $800 million of deposits, and total loans of $630 million.
Olsen Palmer is the #1 sell-side bank M&A advisor nationwide and one of the top 3 overall (sell-side + buy-side) based on transaction count since 2025, according to S&P Global.