LLCU Completes Acquisition of Nokomis Savings Bank
Decatur, Illinois, November 13th, 2023 –LLCU of Decatur, IL, announced today the completion of its purchase and assumption transaction with Nokomis Savings Bank in which LLCU has acquired the assets and assumed the liabilities of Nokomis Savings Bank, which was effective Friday, November 10th at 12:00a.m.(CT). With the acquisition complete, LLCU has expanded its footprint to include a total of 15 branches throughout a 28-county service area in Central Illinois.
“We have already received a very warm welcome by the Nokomis community,” stated Robert Ares, LLCU President & CEO. “That warm welcome just further confirms that adding the Nokomis branch to the LLCU organization was a smart move. This acquisition will undoubtedly prove successful for LLCU, but more importantly, we are confident that citizens of Nokomis will be very happy with our superior financial products and services, as well as our dedication to community investment.”
The acquisition is part of LLCU’s strategic growth plan, which includes adding branches and markets to better assist members in Illinois. Most recently, LLCU previously acquired Colchester State Bank of Colchester, IL, finalized in July of 2023. With the Colchester acquisition, LLCU’s geographic footprint extended to McDonough County, extending the LLCU service coverage area to 28 Illinois counties.
McQueen Financial Advisors served as financial advisor and Luse Gorman, PC served as legal counsel to Land of Lincoln Credit Union.