The $477 million Land of Lincoln Credit Union (LLCU) in Decatur, Ill., said it plans to complete its proposed acquisition of the $96.5 million Williamsville State Bank and Trust in Williamsville, Ill., during the first half of 2026, pending regulatory and shareholder approval.
Financial terms of the definitive agreement, announced last week, were not disclosed.
Founded in 1890, Williamsville State Bank and Trust (WSBT) employs 23 people who run three locations and serve 3,000 customers.
The bank manages $28.5 million in loans, $86.2 million in deposits and $9.7 million in capital, according to FDIC financial filings for Q2.
Robert Ares, president/CEO of LLCU, said this acquisition is part of the credit union’s strategic growth plan along with organic growth and possible mergers with other credit unions.
“We are excited for the opportunity to partner with Williamsville and to improve access to our services in Sangamon County and other contiguous market areas,” Ares said. “Williamsville is a well-managed bank, and we look forward to welcoming their customers and employees into our family.”
LLCU’s 150 employees operate 15 locations that serve more than 38,000 members.
If the proposed deal is approved, LLCU’s will manage more than $576 million in assets and expand its branch footprint to 18 in Sangamon County by adding an additional branch in Springfield as well as a branch in Sherman and Williamsville.
“Like Williamsville, Land of Lincoln is a community-focused institution, and the combined resources of the combined institution will ensure that our customers, employees and communities have expanded financial services and membership benefits going forward,” WSBT President/CEO Catherine Gonzalez said.
LLCU previously acquired two Illinois banks, Colchester State Bank in 2023 and Nokomis Savings Bank in 2024.
The proposed WSBT acquisition marked the 11th credit union-bank purchase agreement announced this year.
Peter Strozniak can be reached at pstrozniak@cutimes.com.
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