On June 1, 2022, NuMark Credit Union, Joliet, Illinois, announced that it had entered into a purchase and assumption agreement to acquire substantially all of the assets and assume substantially all of the liabilities of Pioneer State Bank, Earlville, Illinois.

NuMark Credit Union has approximately $624 million in assets and currently has nine Chicagoland branch offices and over 50,000 members.

Pioneer State Bank has approximately $135 million in assets and currently operates four branch offices in Earlville, Paw Paw and Sublette, Illinois.

Luse Gorman is serving as legal counsel to NuMark Credit Union in the transaction. The Luse Gorman team consists of Jeffrey Cardone, Michael Brown and Brendan Saxon.

Luse Gorman has acted as counsel on more than 100 bank and credit union M&A transactions during the past five years and more bank and credit union M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.