Only approval by the FDIC awaits final approval of the sale of the $190 million Wisconsin community bank to $2.1 billion Landmark CU.
Landmark has completed 10 credit union mergers in the past three years. This is its first acquisition of a bank.
The $2 billion Landmark Credit Union of New Berlin, Wis., has filed applications with federal and state regulators to buy the $190 million Hartford Savings Bank, a state-chartered mutual savings bank in Hartford, Wis.
Purchase would be third credit union takeover of bank in past year.
GFA FCU will seek regulator approval to buy bank in Granite State, just weeks after Michigan credit union completes purchase of Indiana bank.
Michigan CEO Gary Easterling says he's heard from "maybe five or six" others.
The proposed – and rare – merger of a large credit union with a small bank could win final regulatory approval at the end of this month.
Gary Easterling says it's "nice to see trend go the other way" as his $1.2 billion CU moves on buying small Indiana thrift.