Illinois Bank & Trust to Purchase Galena Gazette Property

Location to become new home of Illinois Bank & Trust

 

Galena, IL – April 23, 2021 – Illinois Bank & Trust (IBT) and The Galena Gazette announced the pending purchase by IBT of the property at 716 S. Bench Street in Galena.

As previously announced, the sale of IBT’s property at 971 Gear Street to the Galena Center for the Arts provided IBT the opportunity to re-assess and reimagine banking experiences in Galena while reinforcing its commitment to the community.

“During the past few months, several potential sites in the Galena market were considered,” said Joe Mattingley, IBT’s market president. “We think this location is the perfect fit and will provide us with the best setting to serve our customers.”

“We hadn’t planned on selling the building, but we shared with a couple of key people in the community that if someone was interested, we would consider options to sell,” said P. Carter Newton, publisher of The Galena Gazette. “One of the people I shared this with was Joe Mattingley.”

Newton added, “Over time, computer technology has changed how we publish newspapers. Gone are the days of light tables, darkrooms and typesetting machines. They’ve all been replaced by computers and digital cameras. What was once a building we filled completely in 1995 when Sarah and I purchased it, there is now a lot of unused space.”

“It will be interesting to see what Illinois Bank & Trust has planned for the building. It is a prime location and just a very good property.”

The Gazette is currently considering its options for securing a new location to conduct business and hopes to sign a lease within the next month.

“We have enjoyed doing business from this highly visible location with easy access from U.S. 20,” Newton noted. "We also appreciate the kindness our neighbors have shown us through 26 years we’ve been at the South Bench Street location.”

“Plans for the site are in the development stages with many options,” Mattingley said. IBT has had a presence in Galena and Jo Daviess county for over 50 years. “We will be working with planners and architects to craft the best use of this space and look forward to developing and unveiling our plan to the community.”

 

About The Galena Gazette
The Galena Gazette is locally owned and focuses its efforts to being the information resource for Jo Daviess County. Founded in 1834, the Gazette is the longest business in continuous operation in Jo Daviess County.

About Illinois Bank and Trust Company
Illinois Bank & Trust, a subsidiary of Heartland Financial USA, Inc., operating under the brand name HTLF, serves customers from 9 locations in the Rockford metropolitan area, and the northwest region including the Galena, Elizabeth and Stockton, Illinois markets. The $1.5 billion bank offers commercial, agriculture, personal and wealth management services. Illinois Bank & Trust is a Member of the FDIC and an Equal Housing Lender. For more information, visit illinoisbank.com.

About Heartland Financial USA, Inc.
Heartland Financial USA, Inc., operating under the brand name HTLF, is a financial services company with assets of approximately $18 billion. HTLF’s banks serve communities in Arizona, California, Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas and Wisconsin. HTLF is committed to its core commercial business, supported by a strong retail operation, and provides a diversified line of financial services including residential mortgage, wealth management, investment and insurance. Additional information is available at htlf.com.

News Illinois Bank & Trust to Purchase Galena Gazette Property