LLCU completes purchase of Nokomis Savings Bank
DECATUR/NOKOMIS — Land of Lincoln Credit Union (LLCU) announced in a press release Monday that it has completed its purchase and assumption of Nokomis Savings Bank.
LLCU now assumes the assets and liabilities of Nokomis Savings Bank, effective as of this past Friday at midnight.
With the completion of the purchase, LLCU expands its footprint to 15 branches in a 28-county service area across Central Illinois.
“We have already received a very warm welcome by the Nokomis community,” stated Robert Ares, LLCU President & CEO. “That warm welcome just further confirms that adding the Nokomis branch to the LLCU organization was a smart move. This acquisition will undoubtedly prove successful for LLCU, but more importantly, we are confident that the citizens of Nokomis will be very happy with our superior financial products and services, as well as our dedication to community investment.”
The acquisition is a continuing part of the credit union’s strategic growth plan of adding branches and markets to better assist members in Central Illinois. Prior to the Nokomis Savings purchase, LLCU had completed the acquisition of McDonough County’s Colchester State Bank in July.
McQueen Financial Advisors served as financial advisor and Luse Gorman, PC served as LLCU’s legal counsel throughout the transaction.
About Land of Lincoln Credit Union (LLCU)
With approximately $465 million in assets, over 140 employees, 15 branches, and over 35,000 members, LLCU offers a full suite of financial services including mortgages, auto loans, checking and savings accounts, and business loans and deposits. LLCU remains dedicated to its mission of providing members the education and tools to achieve financial success. More information can be found at www.llcu.org.
Press Release
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