March 24, 2017
On Wednesday, March 22, 2017 the Members of Prospect Federal Savings Bank overwhelmingly approved the Agreement and Plan of Merger with Hoyne Savings Bank. Upon the actual closing of the transaction, Prospect Federal will be known as “Prospect Savings Bank, a division of Hoyne Savings Bank”.
We are pleased that the Members (customers) of Prospect Federal reviewed all of the materials sent and nearly 92% of those voting supported the Merger. This strong showing of support enables us to continue to provide quality, community bank services for many years to follow.
Both Hoyne and Prospect have joined together to build upon our respective strengths. As a combined entity we can achieve much more in today’s competitive market. Our expressed desire is to deliver high quality banking services, with a personal touch, just as Hoyne has since 1887 and Prospect has done since 1909.
Unlike many mergers, each of our respective branches remains a fully staffed facility to serve you and our communities. Therefore, you will continue to be served by the same experienced staff which you have known, and who have come to know you.
As this Merger moves closer to finalization, we will keep you informed. Thank you for your support and your banking loyalty. Personally, I look forward to serving you as President and Chief Operating Officer, along with Ralph Cartensen, from Hoyne as the Chief Executive Officer.
Together, Hoyne and Prospect, a great team.
Steven F. Rosenbaum
President & Chief Operating Officer
***ALERT*** *** ALERT*** ***ALERT***
We have been advised of a computer automated telephone scam that has affected Bank customers throughout Illinois. Debit card customers are receiving automated telephone calls stating that their debit card account has been breached. The customers are told that they will need to "reset" their information in order to use their debit card account. Please remember that there are different variations of the scam and the scam artists will change their methods as people are getting smart to the scam. Whether you have a debit card issued from Prospect Federal, or from another financial institution, it is important to remember NOT to give out personal information over the telephone including Passwords or PINs.
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