New Buffalo Savings Bank Becomes Teachers Credit Union (Updated)

Teachers Credit Union (South Bend, IN) completed its acquisition of New Buffalo Savings Bank (New Buffalo, MI) on June 5.

The bank will re-open on June 8th as Teachers Credit Union.

Shareholders of New Bancorp, the holding company of the bank, will be paid $26 per share; but the price could be less based on the level of post-closing expenses and other factors.

This is the seventh merger of a bank into a credit union completed this year.

Read more.

Read press release.