Add-on Acquisition • Financial Services

MSU Federal Credit Union Acquires Algonquin State Bank

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

Acquisition Context

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.

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M&A Deal Summary
Date	August 31, 2023
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 Company

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 Overview 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 Context for Buyer	#
Overall	1 of 1
Sector: Financial Services	1 of 1
Type: Add-on Acquisition	1 of 1
State: Illinois	1 of 1
Country: United States	1 of 1
Year: 2023	1 of 1

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