GreenState Credit Union Announces Purchase and Assumption Agreements with Banks in Illinois and Nebraska
Subject to Regulatory Approval
Oxford Bank & Trust and Premier Bank to become members of the GreenState family. North Liberty, Iowa (May 25, 2021) – North Liberty, Iowa-based GreenState Credit Union announced today they have entered into purchase and assumption agreements with Oxford Bank & Trust of Oak Brook, Illinois, and Premier Bank of Omaha, Nebraska.
As a part of these newly announced agreements, GreenState will purchase all of the assets and branches of both banks. This includes: Oxford’s six branch locations in Addison, Naperville, Plainfield and Westmont, as well as the bank’s headquarters in Oakbrook; and all four of Premier Bank’s Nebraska locations, which are located in Omaha and Nebraska City. These transactions are subject to regulatory approval and both are expected to close by fourth quarter of 2021. According to Disterhoft, Oxford Bank & Trust and Premier Bank represent great additions to the GreenState family thanks to their strong financials and geographic locations, which are important to GreenState’s long-term growth strategy.
Statement from GreenState President & CEO:
“We are excited about the opportunity to expand GreenState’s footprint and serve people in these two, key markets,” said Jeff Disterhoft, President and CEO of GreenState. “Both banks have a strong legacy of providing quality service and demonstrating community involvement, and we are pleased to welcome them – and their customers – into the GreenState family.”
“Our mission of saving members time and money has been well-received for the more than 80 years we have been serving Midwesterners,” commented Disterhoft. “We already serve more than 15,000 members in Illinois and Nebraska, so adding these new locations will not only strengthen our current cooperative, but it will also be a positive experience for these customers and the communities where they are located.”
About GreenState Credit Union:
Based in North Liberty, Iowa, GreenState Credit Union is one of the nation’s largest credit unions at $7.5 billion in assets and over 280,000 members. For the last 10 years, it has ranked in the top 1% of all U.S. financial institutions for returning profits to its members in the form of better rates and fewer fees. GreenState Credit Union was originally founded in 1938 and currently has 24 branch locations serving members throughout Iowa, Illinois, Wisconsin, Nebraska and South Dakota. To learn more about GreenState Credit Union, visit www.greenstate.org.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen has advised on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
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