The Bank Slate


Empeople Credit Union agrees to buy TSB Bank in Wisconsin

Empeople Credit Union in Moline, Ill., has agreed to buy TSB Bank in Lomira, Wis.

The $2 billion-asset Empeople expects to buy the $182 million-asset TSB in the fourth quarter. The price wasn’t disclosed.

TSB is the fifth bank to agree to sell to a credit union this year.

Empeople, once the credit union for John Deere employees, said the deal would benefit its business and commercial lending services.

TSB “is an extremely well-run institution with a very long history in the area, where we also have members at the nearby John Deere Horicon Works facility,” Kurt Lewin, Empeople’s president and CEO, said in a press release.

“The expertise of the TSB Bank staff and management will allow us to expand opportunities for our members who own and operate small businesses,” Lewin added. “Continued growth is important for the future, and this partnership will allow both institutions to continue to grow together.”

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