CHICAGO, Feb. 10, 2021 /PRNewswire/ -- Attorneys' Title Guaranty Fund, Inc. (ATG®) announces it has signed a definitive agreement to sell the business of its subsidiary, ATG Trust Company, to Midland Trust Company (MTC), a subsidiary of Midland States Bancorp, Inc., of Effingham, Illinois.
"We predicated the decision to consider the sale of ATG Trust on finding a purchaser, trust company or bank, that would offer a collegial culture similar to ATG's, retain as many of our team members as possible, and allow the trust company to sustain or improve upon the services offered to attorneys and their clients," said Peter Birnbaum, ATG President and CEO. "We found exactly that in Midland, an organization of the highest integrity. Our colleagues, ATG lawyers, and other customers are in good hands."
Midland's acquisition of ATG Trust Company will enhance ATG Trust's commitment to offering creative trust and estate solutions by providing expanded investment, technological, and operational capabilities. "Throughout our 22-year history, ATG Trust clients have found a sympathetic, familiar, and highly competent trust team to help navigate the trust and estate landscape," said Kathy Van Eeuwen, President and CEO of ATG Trust. "Our goal is always to help our clients. That mission will only be enhanced with MTC—and our clients' current service teams will not change. They will hear the same familiar voices on the other end of the phone."
In considering the fit between the two companies, Heath Sorenson, President of Midland Trust Company added, "Our culture and ideals are very similar to those of ATG Trust. We advocate for trust beneficiaries and their families with empathy and respect, making every effort to find solutions for all circumstances. We look forward to serving the attorneys and clients who are already familiar with Kathy and her team with the services Midland provides."
After the transaction closes, the staff from ATG Trust and Midland Trust Company's Chicago office will relocate to a new location in Chicago's downtown. For more info about the transition, our location, and how to contact your ATG Trust representatives, please visit www.atgtrust.com.
Piper Sandler & Co. is acting as financial advisor and Much Shelist, P.C. is serving as legal counsel to ATG.
About Attorneys' Title Guaranty Fund, Inc.
Attorneys' Title Guaranty Fund, Inc. (ATG®) is a lawyer service organization and title insurance underwriter dedicated to serving lawyers and their clients. During its 56-year history, ATG established subsidiary companies such as ATG Trust Company to offer additional products and services. ATG Trust has been providing creative and collaborative trust and estate administration services to advisors and their clients since 1998. For more information, see atgf.com/aboutATG/about-us.
About Midland States Bancorp, Inc. Midland States Bancorp, Inc. is a community-based financial holding company headquartered in Effingham, Illinois, and is the sole shareholder of Midland States Bank. As of December 31, 2020, the Company had total assets of approximately $6.87 billion, and its Wealth Management Group had assets under administration of approximately $3.48 billion. Midland provides a full range of commercial and consumer banking products and services, business equipment financing, merchant credit card services, trust and investment management, insurance and financial planning services. For additional information, visit https://www.midlandsb.com/ or https://www.linkedin.com/company/midland-states-bank.