Tuesday, January 10, 2017

Advia CU Announces Plan to Buy Another Bank

Advia Credit Union (Parchment, MI) announced that it plans to acquire the $232 million Peoples Bank (Elkhorn, WI).

If the deal is completed, this would make the second time the $1.3 billion credit union acquired a bank. In 2016, Advia Credit Union acquired Mid America Bank (Janesville, WI).

The deal still requires shareholder and regulatory approvals.

The deal is expected to close in the third quarter of 2017.

The price of the deal was not disclosed.

Read the press release.

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