CoVantage Credit Union to Acquire LincolnWay Community Bank to Expand into Illinois.
MANews-(C)2009-2022
Wisconsin, US-based CoVantage Credit Union has agreed to purchase substantially all of the assets and liabilities of Illinois-based LincolnWay Community Bank, a wholly owned subsidiary of LWCBancorp, Inc., to expand into Northern Illinois, the company said.
While the agreement is contingent on obtaining regulatory and LincolnWay shareholder approvals, the proposed transaction has been unanimously approved by the boards of directors of both organisations.
Plans are being made to combine the staff, assets, loans, and other accounts of the USD 277m LincolnWay Community Bank into the USD 2.7bn CoVantage...
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