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First Bank selling 14 branches, including seven in Metro East

First Bank is selling 14 of its 94 branches to three banks.

The company announced Monday that Royal Banks of Missouri will purchase two Illinois branches, located in Granite City and Jerseyville.

Dieterich Bank will purchase five other Illinois branches, in Columbia, Red Bud, Chester, Waterloo and Breese.

First State Community Bank will purchase seven Missouri branches, located in Warrenton, Dutzow, Washington, Gerald, Owensville, Hermann and St. Genevieve

“The purpose of these sales is to focus our branch network on markets where we have the greatest opportunity to grow and to align our investments with our strategy,” First Bank chairman and CEO Shelley Seifert said in a statement.

Creve Coeur-based First Bank has more than $6 billion in assets, and locations in California, Missouri and Illinois.

The terms of the agreements were not disclosed.

First Bank has been family owned by the Dierberg family for more than four generations.

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