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Iowa state flag. Iowa state flag. (Source: Shutterstock)

Iowa’s largest credit union said it plans to buy two banks in neighboring Illinois and Nebraska that collectively manage assets of more than $1.1 billion.

The $7.4 billion GreenState Credit Union in North Liberty, Iowa, announced Tuesday that it entered into purchase and assumption agreements with the $759 million Oxford Bank & Trust of Oak Brook, Ill., which serves 20,000 customers, and the $383 million Premier Bank of Omaha, Neb., which serves 10,000 customers.

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Peter Strozniak

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