Iowa Credit Union Proposes Buying Illinois, Nebraska Banks

North Liberty, Iowa-based GreenState Credit Union is buying two banks — Oak Brook, Illinois-based Oxford Bank & Trust and Omaha-based Premier Bank, the credit union announced.

The deals, each expected to close by the fourth quarter of 2021 — pending regulatory approval — mark the third and fourth banks to be bought by a credit union this year.

Credit union purchases of banks typically draw objections from trade groups such as the Independent Community Bankers of America (ICBA), which argues credit unions’ tax-exempt status allows them to offer a higher purchase price for acquisitions than banks can, and lets them grow more freely.

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