LA CROSSE, Wis.—Marine Credit Union said it has received regulatory approval to acquire 10 Old National Bank branches through a purchase agreement announced April 2018 and reported earlier in CUToday.info here.
The acquisition is anticipated to close on Oct. 26, and the branches will open as Marine Credit Union on Oct. 29.
Approximately 16,000 former customers, now members, will continue to be served from branches in Chippewa Falls, Columbus, Dodgeville, Eau Claire, Lancaster, Monroe, New Glarus, Platteville, Prairie du Chien and Stanley, Wis.
Under the terms of the agreement, Marine will acquire approximately $274 million in deposits. Marine said also intends to hire all employees who work at the impacted locations. Once the acquisition is complete and locations are consolidated, Marine will have 38 branches serving more than 93,000 members across Wisconsin, Iowa and Minnesota.