Wednesday, September 26, 2018

Marine CU Receive Regulatory Approval for Acquisition of 10 Bank Branches

Marine Credit Union (La Crosse, WI) announced that it has received regulatory approval to acquire 10 Old National Bank branches in Wisconsin.

The transaction is anticipated to close on October 26, and the branches will open as Marine Credit Union on Oct. 29.

The credit union will acquire approximately 16,000 customers with almost $274 million in deposits.

The branches are in Chippewa Falls, Columbus, Dodgeville, Eau Claire, Lancaster, Monroe, New Glarus, Platteville, Prairie du Chien and Stanley, Wisconsin.

Under the terms of the agreement, Marine will acquire approximately $274 million in deposits. Marine also intends to hire all employees who work at the impacted locations.

Read the press release.

No comments:

Post a Comment


The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.