Midland Trust Company Announces Signing of Agreement to Acquire ATG Trust Company
EFFINGHAM, ILLINOIS – February 10, 2021 – Midland Trust Company, a wholly-owned subsidiary of Midland States Bank and part of the Midland Wealth Management group, announced that it will acquire ATG Trust Company, a 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 Company 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,” commented 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 Company provides traditional trust and estate administration services and specializes in administering court-supervised guardianships and conservatorships for minors and disabled adults, 1st party and 3rd 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 Company, 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 Wealth Management is a trade name used by Midland States Bank, its subsidiary Midland Trust Company and its affiliate Midland Financial Advisors, an SEC registered investment advisory firm.
About Midland States Bancorp, Inc.
Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of December 31, 2020, the Company had total assets of approximately $6.87 billion, and its Wealth Management Group had assets under administration of approximately $3.48 billion. Midland provides a full range of commercial and consumer banking products and services, business equipment financing, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit https://www.midlandsb.com/ or https://www.linkedin.com/company/midland-states-bank.