Joliet, Ill.-based NuMark Credit Union is acquiring Lemont, Ill.-based The Lemont National Bank.
The acquisition is expected to close in the second half of this year. By acquiring the bank, which is headquartered in the southwest Chicago suburbs, NuMark will have $910 million in assets and 15 branches. NuMark has more than 60,000 members in northeastern Illinois and Chicagoland.
The price of the deal was not disclosed.
Clawson, Mich.-based McQueen Financial Advisors advised $800 million NuMark Credit Union while Luse Gorman, PC provided legal counsel. Washington, D.C.-based financial firm Olsen Palmer LLC was adviser for The Lemont National Bank and holding company Lemont Bancorp, while Chicago-based Barack Ferrazzano Kirschbaum & Nagelberg LLP provided legal advice.
“NuMark Credit Union is a high-performing, growing and successful organization that has demonstrated a commitment to enriching the financial lives of its members and a passion to serving its communities,” said Hercules Bolos, chair, president and CEO of Lemont Bank. “We are extremely excited to have found a partner that will continue to serve our customers in a manner they have come to expect from The Lemont National Bank.”