Investor Relations

6/11/2024

Western Illinois Bancshares, Inc. Expands Portfolio with Acquisition of Full-Service Accounting Firm

Western Illinois Bancshares, Inc. (WIBI), a diversified financial services holding company, is pleased to announce they have entered into an agreement to purchase the prominent full-service tax and accounting firm of Matthew S. Anderson, CPA. This strategic acquisition marks another significant milestone in WIBI’s growth and expansion strategy.

Matthew S. Anderson, CPA will operate as a subsidiary of Western Illinois Bancshares, Inc. maintaining the firm’s existing brand identity and leadership team. With over 35 years of experience, Matthew Anderson has built a strong reputation in providing comprehensive accounting, tax and consulting solutions to both businesses and individuals.  

“We are excited about the opportunities that lie ahead," said Chris Gavin, President of Western Illinois Bancshares, Inc. "This acquisition aligns seamlessly with our strategic vision of expanding our footprint in the financial services sector.  By integrating Mr. Anderson’s expertise and capabilities, we can offer customers an even more comprehensive suite of financial solutions tailored to their unique needs.”

Matt and his wife, Kathleen, are lifelong Quad Cities residents, graduates of Augustana College and currently reside in Rock Island, Illinois where they enjoy spending time with their four children and grandchildren. Matt joined the firm in 1998 and purchased the practice in 2007.

“I am looking forward to partnering with the Western Illinois Bancshares, Inc. team and continuing to provide a high standard of service to current and new clients,” stated Matt Anderson.

With this acquisition, WIBI further diversifies its offerings leveraging synergies across its existing companies which include Midwest Bank, Midwest Bank Wealth Management and Porter-Hay Insurance. By combining the strengths of each entity, WIBI aims to deliver enhanced value to customers.                                                       

As always if you have an interest in selling or buying, please contact Brooke Robinson (309-457-6284 / Brooke.Robinson@mbwi.com) or Chris (309-457-6227 / Chris.Gavin@mbwi.com) with the number of shares and the selling, or offering price.

Best Regards,

Gus Hart & Chris Gavin

Other News:

April 2024 Press Release