The $731 million Marine Credit Union in La Crosse, Wis.,received regulatory approval Wednesday to buy five retail branchesfrom the $2.6 billion Bank Mutual Corp. in Milwaukee.
|The credit union's regulatory approval also included theaddition of Walworth County in its field of membership, Marine CU said in a prepared statement.
|Although financial terms of the deal were not disclosed, thedeposit and loan relationships are $52.6 million and $13.2 million,respectively. Marine will continue to serve about 3,000 bankcustomers who will become members, increasing the credit union'smembership from 61,609 to more than 64,000.
|The acquisition of the branches, located in Kenosha, Racine, andSheboygan, will be finalized Aug. 25.
|The branches will give Marine a local market presence in Kenoshaand Racine where it has no branches.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
