On July 21, 2023, Land of Lincoln Credit Union, Decatur, Illinois, completed its acquisition of Colchester State Bank, Colchester, Illinois.

All Colchester State Bank’s branches will operate as branch offices of Land of Lincoln Credit Union, increasing Land of Lincoln Credit Union’s total branches to 14 and total assets to approximately $450 million following the completed acquisition.

Luse Gorman served as legal counsel to Land of Lincoln Credit Union in the transaction. The Luse Gorman team consisted of Jeffrey Cardone, Michael Brown, and Babette Schwartz.

Luse Gorman has acted as counsel on more than 100 bank and credit union M&A transactions during the past seven 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.