JOLIET, Ill.–– NuMark Credit Union said it plans to acquire Lemont National Bank in an all-cash transaction.
The $850.5-million Numark said the transaction is scheduled to close in the second half of 2025 pending regulatory approvals. When the purchase is complete NuMark will have approximately $910 million in assets and increase its footprint with a total of 15 branches.
The two institutions are located approximately 12 miles apart in the Chicago suburbs.
McQueen Financial Advisors acted as financial advisor to NuMark Credit Union and Luse Gorman, PC acted as its legal advisor in the transaction. Olsen Palmer LLC served as financial advisor to The Lemont National Bank and Lemont Bancorp, Inc. and Barack Ferrazzano Kirschbaum & Nagelberg LLP served as its legal advisor.
‘Excite for Opportunity’
“We are excited for the opportunity to partner with The Lemont National Bank and look forward to welcoming their customers and employees into our family,” said Statement NuMark President & CEO Lloyd Fredendall in a statement. “It is clear to us that our organizations share a common vision in that we are both invested in the importance of putting people and community first in all that we do. As we welcome Lemont customers into the NuMark Credit Union family, we look forward to providing a top-notch experience by focusing on our member-owners’ needs, and offering value-added products, services, and technology in our on-going quest to help our members do more with their money.”
The 61,679-member NuMark reported $6.59-million in net income at year-end 2024, with net worth of 10.19%. The bank acquisition is not NuMark’s first. In 2023, the credit union acquired Pioneer State Bank in Illinois.
‘High Performing & Growing’
“NuMark Credit Union is a high-performing, growing, and successful organization that has demonstrated a commitment to enriching the financial lives of its members and a passion to serving its communities,” Lemont’s chairman, president & CEO, Hercules Bolos. “We are extremely excited to have found a partner that will continue to serve our customers in a manner they have come to expect from The Lemont National Bank.”
The bank was founded in 1901.
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