ORION, Ill. – Orion Bancorporation, Inc., parent company of BankORION, is set to acquire Mechanicsville Bancshares, Inc., the parent company of Bridge Community Bank. The merger, expected to finalize by mid-2025 pending regulatory approval, will strengthen BankORION’s presence in eastern Iowa while combining assets to total approximately $770 million.
Despite the acquisition, both BankORION and Bridge Community Bank will maintain their names and identities, operating independently to serve their communities. Combined, the two organizations represent 257 years of banking history across Illinois and Iowa.
Matt Bollinger, President and CEO of Orion Bancorporation, emphasized the alignment of values between the banks:
“Expanding into eastern Iowa is an exciting milestone for us. Bridge Community Bank shares our commitment to community and customer service, and we’re excited to grow together.”
David Steen, President of Bridge Community Bank, expressed similar enthusiasm:
“We’re thrilled to partner with an organization that shares our values and commitment to our communities. This partnership positions us for a strong and collaborative future.”
This acquisition marks a significant step in providing expanded opportunities and resources for customers across both banks’ service areas.