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Illinois regulator OKs Morton Community Bank's purchase of State Bank of Speer

The Illinois Department of Financial and Professional Regulation approved Morton, Ill.-based Hometown Community Bancorp Inc. unit Morton Community Bank's proposed acquisition of in-state peer State Bank of Speer.

The state regulator approved the deal on Jan. 12, two months after it was first announced.

State Bank of Speer is a unit of Speer Bancshares Inc.