Milwaukee-based Landmark Credit Union is acquiring a branch in McHenry, Ill., from North Shore Bank. .The deal, announced March 19, is expected to close in the second half of this year and add $34 million in deposits to Landmark. Brookfield, Wis.-based North Shore Bank has $2.5 billion in assets and 42 branches in eastern Wisconsin and northern Illinois. Landmark Credit Union has more than $7 billion in assets, 35 branches and 400,000 members. “We’ve experienced strong indirect lending activity in this region,” said Landmark President and CEO Timothy Mackay. “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.” The deal “allows us to focus on our Wisconsin markets while ensuring McHenry customers and associates continue to be well-served,” added North Shore Bank Senior Vice President of Retail Banking Susan Doyle.The deal came a little more than a week after Landmark announced its pending expansion in northeast Wisconsin by acquiring American National Bank-Fox Cities, Appleton, Wis. Dallas-based ALM First is financial adviser to Landmark, with Honigman LLP, Detroit, as legal adviser. Austin, Texas-based Hillworth Bank Partners was financial adviser to North Shore Bank while Reinhart Boerner Van Deuren, Milwaukee, was legal counsel.
