Land of Lincoln Credit Union in Decatur, Ill., has agreed to buy Nokomis Savings Bank in Nokomis, Ill.
The $457 million-asset credit union said in a press release that it expects to complete its purchase of the $27 million-asset bank by the end of the first quarter of 2024. The price wasn’t disclosed.
Nokomis has one branch, $21 million of deposits and $11 million of loans.
The acquisition “is part of Land of Lincoln’s strategic growth plan, which includes adding branches and markets to better assist our members throughout Illinois,” Robert Ares, the credit union’s president and CEO, said in the release.
Land of Lincoln previously bought Colchester State Bank in Illinois.