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  6. MSU Federal Credit Union Acquires Algonquin State Bank

M&A Deal Summary

MSU Federal Credit Union Acquires Algonquin State Bank

On August 31, 2023, MSU Federal Credit Union acquired financial services company Algonquin State Bank

Acquisition Highlights
  • This is MSU Federal Credit Union’s 1st transaction in the Financial Services sector.
  • This is MSU Federal Credit Union’s 1st transaction in the United States.
  • This is MSU Federal Credit Union’s 1st transaction in Illinois.

M&A Deal Summary
Date 2023-08-31
Target Algonquin State Bank
Sector Financial Services
Buyer(s) MSU Federal Credit Union
Deal Type Add-on Acquisition
Advisor(s) Olsen Palmer (Financial)
Vedder Price (Legal)

Target

Algonquin State Bank

Algonquin, Illinois, United States
Algonquin State Bank is a local bank serving clients in city of Algonquin and surrounding communities. Algonquin State Bank provides a full range of banking and lending services to individuals and businesses. Algonquin State Bank was formed in 1902 and is based in Algonquin, Illinois.

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Buyer(S) 1

Buyer

MSU Federal Credit Union

East Lansing, Michigan, United States
Category Company
Founded 1937
Sector Financial Services
DESCRIPTION

MSU Federal Credit Union is a regional credit union serving business and retail customers throughout the state of Michigan. MSU Federal Credit Union was formed in 1937 and is headquartered in East Lansing, Michigan.

DEAL STATS #
Overall 1 of 1
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Illinois M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1
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