Land of Lincoln Credit Union to buy Williamsville State Bank in Illinois

Land of Lincoln Credit Union in Decatur, Ill., has agreed to buy Williamsville State Bank and Trust in Illinois.

The $475 million-asset credit union said in a press release that it will pay cash for the $97 million-asset bank. The price wasn’t disclosed. The deal is expected to close in the first half of next year.

Williamsville has three branches.

“The acquisition is part of Land of Lincoln’s strategic growth plan, which includes adding branches to better assist our members in Illinois,” Robert Ares, the credit union’s president and CEO, said in a statement.

Land of Lincoln previously bought Nokomis Savings Bank and Colchester State Bank.

Eleven banks have agreed to sell to credit unions this year.