Collins Community CU to Acquire Small Illinois Bank

Credit Union Times is reporting that Collins Community Credit Union (Cedar Rapids, IA) announced it plans to acquire First Savanna Savings Bank (Savanna, IL).

Collins Community CU will acquire the assets and liabilities of First Savanna Savings Bank.

First Savanna Savings Bank has $12.3 million in assets. Collins Community Credit Union has $1.2 billion in assets.

Financial terms of the cash deal were not disclosed.

Read the story.