The $689 million Marine Credit Union in La Crosse, Wis., signed an agreementTuesday to buy five retail branches of the $2.6 billion Bank MutualCorp. in Milwaukee.
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 60,302 to more than 63,000.
The proposed sale, which is expected to close in the thirdquarter pending regulatory approvals, includes one branch inKenosha, two branches in Racine, and two branches in Sheboygan.
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