Heritage FCU to Buy Indiana Community Bank

Heritage Federal Credit Union (Newburgh, IN) has agreed to buy The Elberfeld State Bank (Elberfeld, IN).

Heritage FCU has almost $700 million in assets, as of the last call report.

The Elberfeld State Bank has three branches. The bank has $82.1 million in assets and $71.3 million in assets.

The deal needs the approval of the bank's shareholders and regulators.

The deal is expected to close in the first quarter of 2021.

The price of the transaction was not disclosed.

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