Effingham-based Midland Trust Co., a wholly-owned subsidiary of Midland States Bank and part of the Midland Wealth Management group, announced it will acquire ATG Trust Co., a Chicago-based subsidiary of Attorneys’ Title Guaranty Fund Inc., in a transaction expected to close in the second quarter of 2021.
The transaction brings Midland Wealth Management’s group to more than $3.8 billion in assets under administration.
Established in 1998, ATG Trust Co. was founded as a subsidiary of Attorneys’ Title Guaranty Fund, Inc. and is an independent trust company with the mission to provide creative, collaborative, and committed trust and estate administration.
“We are pleased to welcome ATG Trust to the Midland Wealth Management group,” said Eric Chojnicki, president of Midland Wealth Management. “Their focus on providing a high level of personalized service to their trust and investment clients is exactly aligned with our community banking approach.”
Midland Trust Co. provides traditional trust and estate administration services and specializes in administering court-supervised guardianships and conservatorships for minors and disabled adults, first and third party special needs and supplemental needs trusts and other financial products for those receiving proceeds from personal injury or wrongful death lawsuits.
Heath Sorenson, chief operating officer of Midland Wealth Management and president of Midland Trust, also added, “We are excited to expand our presence in Chicago and increase our capacity to provide services to the Special Needs Trust and Property Guardianship space. Together, we will continue to service trust beneficiaries and their families with empathy and respect.”
Midland States Bancorp Inc. is a community-based financial holding company headquartered in Effingham and is the sole shareholder of Midland States Bank, which operates throughout Southern Illinois including locations in the Metro East.