The Bank Slate


NuMark CU agrees to buy Pioneer State in Illinois

NuMark Credit Union in Joliet, Ill., has agreed to buy Pioneer State Bank in Earlville, Ill.

The $637 million-asset NuMark said in a press release that it will buy substantially all of the $122 million-asset bank’s assets and liabilities from NBE Bancshares in a cash transaction. The price wasn’t disclosed.

The deal is expected to close in the fourth quarter.

“It is clear to us that our organizations share a common vision in that we are both invested in the importance of putting people and community first in all that we do,” Lloyd Fredendall, NuMark’s president and CEO, said in the release.

“We look forward to providing a top-notch experience by focusing on our member-owners’ needs, and offering value-added products, services, and technology in our ongoing quest to help our members do more with their money,” Fredendall added.

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