Thursday, October 24, 2019

Bank Stockholders Approve Acquisition by Teachers CU

New Bancorp, Inc. (New Buffalo, MI), the holding company of New Buffalo Savings Bank, announced that on October 22, 2019 its stockholders overwhelmingly approved the acquisition of the assets and assumption of the liabilities of New Bancorp and New Buffalo by Teachers Credit Union (South Bend, IN) at its stockholders’ meeting.

Subject to the receipt of the required regulatory approvals and the satisfaction of customary closing conditions, the parties hope to close the transaction in the first quarter of 2020.

Read the press release.
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