U.S. Rep Dave Loebsack, D-Iowa, announced Friday that the Clinton Municipal Airport will receive a $382,500 grant for repair work.
The U.S. Department of Transportation's Federal Aviation Administration grant will fund the reconstruction of 450 feet of the existing taxiway pavement, which has been deteriorating, according to a news release from Loebsack's office.
"The Clinton Municipal Airport plays a critical role in allowing the community to grow, as well as fuel additional economic development throughout the region," Loebsack said. "I am pleased that Clinton Municipal Airport is receiving this competitive funding, helping the airport grow safely and effectively."
First Midwest Bancorp to acquire Northern States Financial
First Midwest Bancorp has entered into an agreement to acquire Northern States Financial Corporation.
Northern States is the holding company for NorStates Bank, based in Waukegan, Illinois, which operates eight offices in Lake County and has around $500 million in total assets, according to a news release.
The merger agreement provides for a fixed exchange ratio of .0369 shares of First Midwest common stock for each share of Northern States common stock. Based upon the closing price of common stock on June 5, the transaction is valued at $91 million, according to the news release.
First Midwest Bank operates several locations in the Quad-Cities, including in Davenport, Bettendorf, Moline and East Moline.