Purchase would mark fourth credit union takeover of bank in past year and a half.
During a closed meeting, the NCUA Board unanimously approved Landmark Credit Union’s acquisition of Hartford Savings Bank, subject to approval from the FDIC, according to a Board Action Bulletin posted last week on the NCUA’s website.
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.
As far as Jay Magulski and Mark Hudzik are concerned, growth isn’t something you turn over to the marketing or corporate development department and figure the job is done.
Kase steps down after 39 years with New Berlin, Wis., credit union.
Wisconsin consolidation would merge $52 million Dodge Central into $2 million Landmark.
When CEO Ron Kase joined Landmark Credit Union 39 years ago, he expected it to grow, but he likely would not have wagered it would reach $2.2 billion by the time he retires in January.
I know what I’m talking about at least half the time: my 2011 predictions were hit and miss. Like any other industry observer, they’re all educated guesses, and we’re even asked to speak about what we foresee. As the late Red Skelton is often credited with saying, “Give the people...