NB&T: Share buyback ensures independence
SYCAMORE – The holding company for The National Bank & Trust Co. of Sycamore plans to buy back almost $17 million in common stock by the end of the year, bank officials said Monday.
NI Bancshares Corp. will purchase the bulk of the shares from the Dutton family, the bank’s largest single stockholder. The buyback will ensure that NB&T will remain an independent local bank for years to come, said Mike Cullen, president and CEO of NB&T.
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