The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

Iowa credit union to buy Home Savings in Wisconsin

Dupaco Community Credit Union in Dubuque, Iowa, has agreed to buy Home Savings Bank in Madison, Wis. 


The $2.6 billion-asset Dupaco said in a press release Friday that it will pay between $23.5 million and $24.3 million in cash for the $183 million-asset Home. The deal is expected to close in the second quarter.

Home has two branches. 

“Our combined organization will reinforce the foundation of a credit union that prioritizes the well-being of our members, employees and communities,” Joe Hearn, Dupaco’s president and CEO, said in the release. “We recognize and value Home Savings Bank’s 125-year history, leadership and local market expertise.”

Home is the 11th bank that has agreed to be sold to a credit union this year. 

Home was advised by Hovde Group and Luse Gorman. Dupaco was advised by Olsen Palmer and Howard and Howard.

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