Oxford Bank & Trust of Northeast Illinois and GreenState Credit Union have announced they have entered into a purchase and assumption agreement. GreenState will purchase substantially all of Oxford’s assets and liabilities, including all six Oxford branch locations in Addison, Naperville, Plainfield and Westmont, Illinois, as well as the bank’s headquarters in Oak Brook. The transaction is subject to regulatory approval and is expected to close in the fourth quarter 2021.
“Oxford Bank has a long history of exceptional service and community giveback,” George Colis, chairman of Oxford Bank, said. “When we set out to find a potential partner, we found that GreenState’s vision and values aligned perfectly with ours. Oxford Bank customers will work with the same, familiar faces at the same locations, only now with a greatly expanded menu of products to meet their diverse financial needs. We couldn’t be more excited about the future for our customers and employees.”
“GreenState has been serving Midwesterners for more than 80 years,” said GreenState president and CEO Jeff Disterhoft. “Our mission to save members’ time and money has been very well received, and Oxford Bank’s rich history of quality service and community giveback makes it a perfect match for GreenState. We can do great things together.”
Oxford Bank & Trust has been recognized for its delivery of highly personalized customer service, community involvement and was named by American Banker in 2019 as one of the Best Banks to Work For in the United States. Founded in 1902 as Addison State Bank, Oxford Bank has assets of $759 million, with $404 million in commercial and consumer loans and $667 million in deposits.
Based in North Liberty, Iowa, GreenState Credit Union is one of the nation’s largest credit unions with $7.1 billion in assets and over 260,000 members. For more information, visit greenstate.org.
