The $357 million Westby Co-Op Credit Union of Westby, Wis.,signed an agreement Thursday with Citizens Community Federal Bankto buy its Wal-Mart Superstore branch deposit and loan assets inWisconsin Dells.
|Financial terms of the deposit and loan assumption agreement were not disclosed. The transactionis contingent on bank regulatory approvals.
|“This asset acquisition enables us to serve new customers in ourcore market, and we plan to work closely with Citizens to provide asmooth transition and continued outstanding support for thesecustomers,” Kevin R. Hauser, president/CEO of Westby Co-Op CU, saidin a prepared statement.
|Westby Co-Op CU serves nearly 25,000 members throughoutsouth-central Wisconsin.
|Citizens Community Federal Bank said it plans to close two otherWal-Mart Superstore banking offices in Shawano and Black RiverFalls, Wis., in an effort to focus on its “most productivemarkets.”
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