ROCKFORD, Ill. (WIFR) -- We're learning new information about the $180 million sale of Alpine Bank as company leaders speak publicly for the first time since announcing the sale.

Alpine Bank board chairman Rob Funderburg spoke Wednesday addressing some of the biggest concerns from the community. Those being the reason behind the community bank's decision to sell and what this means for both Alpine Bank employees and its customers.

Midland States Bank CEO Leon J. Holschbach said he has spoken to employees at several Alpine Bank branches to say there will be a lot of unknowns when it comes to the next several months during the merger.

Funderburg said while the decision to sell was difficult, it was the right decision.

"Financial services is a dynamic changing industry, it has been over the past several years, and it's our feeling that that will continue to occur over the next several years. The need for scale in our industry is very clear," Funderburg added.

"We are going to push two companies together that are going to create one of the larger community banks in the state, and there will be some job redundancy, however, it's still a nine month period of time before we get to any impact and as we do in each case attrition opportunities will be offered to Alpine Bank employees first," said Midland States Bank CEO Leon J. Holschbach.

Holschbach said the company hopes to maintain the relationship customers have with their favorite tellers. He said the company believes this opportunity will provide a net increase on products and services available to customers.

Midland States Bank has been in operation for more 136 years. Midland, which is based out of Effingham, Illinois, now has more than 80 locations across the United States.

Alpine Bank has close to 370 employees where Midland States Bank has more than 850.