Wisconsin CU makes bank buy

La Crosse, Wis.-based Marine Credit Union announced April 23 it plans to acquire 10 branches from Evansville, Ind.-based Old National Bank, a wholly-owned subsidiary of Old National Bancorp.

The branches to be acquired, all in Wisconsin, are located in Chippewa Falls, Columbus, Dodgeville, Eau Claire, Lancaster, Monroe, New Glarus, Platteville, Prairie du Chien and Stanley. The purchase includes $274 million in deposits.

“We are pleased to partner with Old National, a bank that shares our values, to continue providing excellent service and competitive products to customers in these communities throughout Wisconsin,” said Shawn Hanson, CEO of Marine Credit Union.

“Marine Credit Union is a strong client- and community-focused organization, and we are confident that our transitioning associates will do a great job of continuing to serve the needs of their clients and communities as members of the Marine team,” said Old National Region CEO Len Devaisher.

Customers of the affected Old National branches will become members of Marine Credit Union.

The purchase is expected to close in the third quarter of 2018, subject to regulatory approval. Terms of the transaction were not announced.