Zeal Credit Union in Livonia, Mich., has agreed to buy Gegebic Range Bank in Ironwood, Mich.
The $839 million-asset Zeal said in a press release that it will pay an undisclosed amount of cash to West End Financial. The deal is expected to close in the third quarter.
“Gogebic is a well-managed bank, and we look forward to welcoming their customers and employees into our family,” Zeal President and CEO Julie Kreinbring said in the release.
The $147 million-asset Gegebic is the 22nd bank to agree to sell to a credit union this year.