MILWAUKEE –The $7-billion Landmark Credit Union has agreed to buy a branch of North Shore Bank, located in McHenry, Ill, the CU announced.
The deal closely follows Landmark’s agreement to purchase $419-million American National Bank-Fox Cities, based in Appleton, Wis., which CUToday.info reported here less than two weeks ago.
The branch acquisition will add approximately $34 million in deposits. As part of the transaction, Landmark will acquire the physical branch and assume the associated deposits with the location. However, the deal excludes loan relationships.
The agreement is expected to close in the second half of 2026, subject to satisfaction of customary closing conditions, including regulatory approvals. Upon completion, all North Shore associates assigned to the branch will be offered continued employment with Landmark, the CU said.
“This acquisition allows us to deepen our commitment to the Illinois communities we already serve,” said Timothy Mackay, president and CEO of Landmark Credit Union. “We’ve experienced strong indirect lending activity in this region. Adding a full-service branch, along with welcoming the talented team already serving local customers, helps us enhance the convenience and support we can offer our members. We look forward to welcoming North Shore Bank’s McHenry customers and team members to Landmark as we continue to focus on expanding our presence in this area.”
“We have served the banking needs of the McHenry community for 20 years,” said Susan T. Doyle, senior vice president of retail banking at North Shore Bank. “This agreement allows us to focus on our Wisconsin markets while ensuring McHenry customers and associates continue to be well served.”
“As mentioned at the beginning of this year, branch deal activity is increasing,” said Michael Bell, partner and chair of the Financial Institutions Practice Group at Honigman LLP, which is representing Landmark in the deal. “These deals offer a win-win for the community bank and the credit union. To boot, the community wins as the branch not only remains but gets enhanced.”
Bell, the pioneer of CU purchases of banks, has advised on more than 75 whole-bank transactions and numerous branch purchases throughout his career.