Indiana Bank to Acquire Privately Insured CU

In a rare transaction, an Indiana bank will acquire an Indiana credit union.

ABA Newsbytes is reporting that First Bank of Berne, a $711 million community bank based in Berne, Ind., will acquire the $18.7 million Adams County Credit Union in Monroe, Indiana.

Adams County Credit Union is privately insured by American Share Insurance.

Therefore, this merger will not be hindered by the National Credit Union Administration's burdensome bank-credit union merger regulations.

Details regarding the transaction were not disclosed.