Midland States Bancorp Inc. (Nasdaq: MSBI), which operates Midland States Bank in St. Louis, is buying HomeStar Financial Group Inc. and its HomeStar Bank and Financial Services in exchange for 405,000 shares of Midland common stock, valued at about $10 million.
HomeStar Bank, headquartered in Manteno, Illinois, about an hour south of Chicago, had $375 million in assets, $223 million in loans and $333 million in deposits as of Dec. 31. It has five branches in northern Illinois and has the…
