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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report MARCH 23, 2000
(Date of earliest event reported)
MAIN STREET TRUST, INC.
(Exact name of Registrant as specified in its charter)
ILLINOIS
(State or other jurisdiction of incorporation)
91759 37-13338484
(Commission File Number) (I.R.S. Employer Identification Number)
100 W. University Ave., Champaign, Illinois 61820-4028
(Address of principal executive offices) (Zip Code)
(217) 351-6500
(Registrant's telephone number, including area code)
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ITEM 5. OTHER INFORMATION
Effective Thursday, March 23, 2000, BankIllinois Financial Corporation
("BIFC") and First Decatur Bancshares, Inc. ("FDEC") completed their merger into
Main Street Trust, Inc. ("Main Street"), a company formed by BIFC and FDEC to
serve their combined customer base located across central Illinois.
In the transaction, FDEC's stockholders received 1.638 shares of the
newly issued Main Street common stock for each share held of FDEC, and BIFC
stockholders received one share of Main Street stock for each share held of
BIFC. Based upon the two companies' financial results at the end of last year,
Main Street has total assets in excess of $1.05 billion, deposits exceeding $800
million and over $1.1 billion in assets under management.
Main Street is the parent company of BankIllinois, First National Bank
of Decatur, First Trust Bank of Shelbyville and FirsTech, Inc., a
telecommunications bill processing company.
A press release announcing the completion of the transaction is
attached as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED.
None.
(b) PRO FORMA FINANCIAL INFORMATION.
None.
(c) EXHIBITS.
99.1 Press release dated March 23, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MAIN STREET TRUST, INC.
Dated: March 23, 2000 By: /s/ Van A. Dukeman
---------------------------------
Van A. Dukeman
President
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Exhibit 99.1
MAIN STREET TRUST, INC.
FOR IMMEDIATE RELEASE
CONTACT: VAN A. DUKEMAN
PRESIDENT AND CEO
217.351.6568
JOHN W. LUTTRELL
CHAIRMAN OF THE BOARD
217.425.8221
BANKILLINOIS FINANCIAL CORPORATION AND FIRST DECATUR
BANCSHARES, INC. COMPLETE COMBINATION INTO
MAIN STREET TRUST, INC.
CHAMPAIGN, ILLINOIS, MARCH 23, 2000 - Van A. Dukeman, President and
CEO, and John Luttrell, Chairman of the Board of Main Street Trust, Inc. (OTC
Bulletin Board: MSTI), announced that effective Thursday, March 23, 2000,
BankIllinois Financial Corporation ("BIFC") and First Decatur Bancshares, Inc.
("FDEC") completed their merger into Main Street Trust, Inc. ("Main Street"), a
new company formed by BIFC and FDEC to serve their combined customer base
located across central Illinois.
In the transaction, FDEC's stockholders received 1.638 shares of the
newly issued Main Street common stock for each share held of FDEC, and BIFC
stockholders received one share of Main Street stock for each share held of
BIFC. Based upon the two companies' financial results at the end of last year,
Main Street has total assets in excess of $1.05 billion, deposits exceeding $800
million and over $1.1 billion in assets under management, including
approximately 70,000 acres of farmland. Main Street operates 19 banking centers,
and is the market leader in total deposits and loans in the combined area of
Champaign, Macon and Shelby Counties in central Illinois. Main Street is the
parent company of BankIllinois, First National Bank of Decatur, First Trust Bank
of Shelbyville and FirsTech, Inc., a telecommunications bill processing company.
Mr. Dukeman stated, "We are very excited about uniting these two
excellent financial service organizations. We look forward to continuing to
offer our customers across central Illinois a wide range of valuable products
and services and, even more comprehensive financial relationships. In addition,
the financial characteristics of our new company are very strong which positions
us well for the future."
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Mr. Luttrell commented that, "Our organizations have been providing
financial services to their respective communities for many years. We will
continue this tradition of community banking in our respective market areas. We
are now in an even better position to serve our great customer base."
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