Verve to Complete Acquisition of South Central Bank

At the close of business on January 10, South Central Bank (Chicago, IL) will be officially acquired by Verve, a Credit Union (Oshkosk, WI).

On January 7, 2020, the Wisconsin Department of Financial Institutions approved adding the Illinois counties of DuPage and Cook (the portions north of Highway 20/95th Street) to the credit union's field of membership, as well as the members of South Central Bank as of the date of the purchase.

This is the second completed deal of a credit union acquiring an Illinois bank.

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