Verve credit union plans to buy South Central Bank in Chicago

Verve, a Credit Union announced plans to buy South Central Bank in Chicago

(Oshkosh Northwestern) – Verve, a Credit Union announced plans Tuesday to buy South Central Bank, a $300 million community bank based in the Chicago area.

Officials expect to finalize the sale sometime between October and December, pending regulatory approval, according to a Verve news release. Once the acquisition is finalized, the combined organization will total over $1.2 billion in assets, operate 21 branches and serve nearly 66,000 members in 24 counties.

Continue Reading