The $2.7 billion-asset CoVantage said in a release that it
expects to complete the purchase of the $277 million-asset LWCBancorp unit in
the fourth quarter. The credit union did not disclose the price it will pay.
LincolnWay has two branches, $243 million of deposits and $197
million of loans.
Six credit unions have agreed to buy banks this year.
Mercer Capital and Honigman advised CoVantage. Olsen Palmer and
Barack Ferrazzano Kirschbaum & Nagelberg advised LWCBancorp.
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