May 25 2021 GreenState Credit Union Announces Purchase and Assumption Agreements with Banks in Illinois and Nebraska
News Release
May 25, 2021
FOR IMMEDIATE RELEASE
Contact: Jeff Disterhoft, President and CEO
Phone: (319) 341-2101
Email: JDisterhoft@greenstate.org
GreenState Credit Union Announces Purchase and Assumption Agreements with Banks in Illinois and Nebraska
Oxford Bank & Trust and Premier Bank to become members of the GreenState family.
North Liberty, Iowa (May 25, 2021) – North Liberty, Iowa-based GreenState Credit Union announced today they have entered into purchase and assumption agreements with Oxford Bank & Trust of Oak Brook, Illinois, and Premier Bank of Omaha, Nebraska.
“We are excited about the opportunity to expand GreenState’s footprint and serve people in these two, key markets,” said Jeff Disterhoft, President and CEO of GreenState. “Both banks have a strong legacy of providing quality service and demonstrating community involvement, and we are pleased to welcome them – and their customers – into the GreenState family.”
As a part of these newly announced agreements, GreenState will purchase all of the assets and branches of both banks. This includes: Oxford’s six branch locations in Addison, Naperville, Plainfield and Westmont, as well as the bank’s headquarters in Oakbrook; and all four of Premier Bank’s Nebraska locations, which are located in Omaha and Nebraska City. These transactions are subject to regulatory approval and both are expected to close by fourth quarter of 2021.
According to Disterhoft, Oxford Bank & Trust and Premier Bank represent great additions to the GreenState family thanks to their strong financials and geographic locations, which are important to GreenState’s long-term growth strategy.
“Our mission of saving members time and money has been well-received for the more than 80 years we have been serving Midwesterners,” commented Disterhoft. “We already serve more than 15,000 members in Illinois and Nebraska, so adding these new locations will not only strengthen our current cooperative, but it will also be a positive experience for these customers and the communities where they are located.”
About GreenState Credit Union:
Based in North Liberty, Iowa, GreenState Credit Union is one of the nation’s largest credit unions at $7.5 billion in assets and over 280,000 members. For the last 10 years, it has ranked in the top 1% of all U.S. financial institutions for returning profits to its members in the form of better rates and fewer fees. GreenState Credit Union was originally founded in 1938 and currently has 24 branch locations serving members throughout Iowa, Illinois, Wisconsin, Nebraska and South Dakota. To learn more about GreenState Credit Union, visit www.greenstate.org.
About Oxford Bank & Trust:
Oxford Bank has been recognized for its delivery of highly personalized customer service, community involvement, and was named by American Banker in 2019 as one of the Best Banks to Work for in the United States. Founded in 1902 as Addison State Bank, Oxford Bank today has assets of $730 million, with $405 million in commercial and consumer loans, and $635 million in deposits. To learn more about Oxford Bank & Trust, visit www.oxford.bank/.
Oxford customers can learn more about GreenState Credit Union and find updates about the transition schedule at greenstate.org/oxfordbank.
About Premier Bank:
Established in 2011, Premier Bank is a locally owned, community bank serving the Omaha and surrounding areas, as well as the Nebraska City community. The bank offers a comprehensive range of deposit and loan products for both personal and business banking needs and operates a full-service, consumer mortgage loan department. Premier Bank has made the list of Top 100 Healthiest Banks in America for the past six years, ranking 51st among the 5,267 banks analyzed in 2019. The bank has branches in Omaha along the Dodge Street corridor at 43rd, 114th and 168th Streets and a branch in Nebraska City. To learn more about Premier Bank, visit www.PremierBankNe.com.