Iowa credit union to buy Home Savings in Wisconsin

Dupaco Community Credit Union in Dubuque, Iowa, has agreed to buy Home Savings Bank in Madison, Wis. 

The $2.6 billion-asset Dupaco said in a press release Friday that it will pay between $23.5 million and $24.3 million in cash for the $183 million-asset Home. The deal is expected to close in the second quarter.

Home has two branches. 

“Our combined organization will reinforce the foundation of a credit union that prioritizes the well-being of our members, employees and communities,” Joe Hearn, Dupaco’s president and CEO, said in the release. “We recognize and value Home Savings Bank’s 125-year history, leadership and local market expertise.”

Home is the 11^th bank that has agreed to be sold to a credit union this year. 

Home was advised by Hovde Group and Luse Gorman. Dupaco was advised by Olsen Palmer and Howard and Howard.