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Superior Choice CU closes purchase of Dairyland State Bank

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Superior Choice CU closes purchase of Dairyland State Bank

Superior, Wis.-based Superior Choice CU completed its purchase of Bruce, Wis.-based Dairyland State Bank, effective Aug. 31, according to both entities' websites.

On Sept. 4, Dairyland State Bank, which already uses the Superior Choice CU name on its website, will begin operating as a branch of the credit union.

The Wisconsin Department of Financial Institutions' Office of Credit Unions on July 26 approved Superior Choice CU's application to amend its bylaws and the proposed addition of five offices in connection with the purchase and assumption agreement with Dairyland State Bank.

The deal was announced in February.

As of June 30, Superior Choice CU had approximately $417.5 million in assets, while Dairyland State Bank had approximately $79.8 million in assets, according to S&P Global Market Intelligence data.