Iowa CU purchasing Wisconsin community bank

Dupaco Community Credit Union is purchasing Madison, Wis.-based Home Savings Bank, in an all-cash transaction. 

The acquisition, unanimously approved by the boards of both organizations, is expected to close in the second quarter of 2022. Dupaco, headquartered in Dubuque, Iowa, will add two banking offices and approximately $183 million in assets, resulting in $2.8 billion in combined assets for the credit union. Dupaco operates 18 branches and has more than 143,000 members.  

The transaction is valued at approximately $26.47 to $27.32 per share to shareholders of the bank’s holding company, Home Bancorp.

Hovde Group, LLC, served as the exclusive financial advisor to Home Bancorp Wisconsin.