Land of Lincoln Credit Union, based in Decatur, Ill., is acquiring Williamsville State Bank and Trust, headquartered in Williamsville, Ill., in an all-cash transaction.
When the acquisition closes in the first half of 2026, Land of Lincoln will have $576 million in assets. Also, it will further grow its footprint in Sangamon County by adding an additional branch in Springfield as well as a branch in Sherman and Williamsville. The total number of LLCU branches will be 18.
“The acquisition is part of Land of Lincoln’s strategic growth plan, which includes adding branches to better assist our members in Illinois. We are excited for the opportunity to partner with Williamsville and to improve access to our services in Sangamon County and other contiguous market areas. Williamsville is a well-managed bank, and we look forward to welcoming their customers and employees into our family,” Robert Ares, president and CEO of Land of Lincoln, said.
The deal is subject to regulatory and stockholder approvals. Following the completion of the transaction, Williamsville will liquidate and distribute its remaining assets to its stockholders.
“We are excited about our new partnership with Land of Lincoln. Like Williamsville, Land of Lincoln is a community-focused institution, and the combined resources of the combined institution will ensure that our customers, employees and communities have expanded financial services and membership benefits going forward,” Catherine Gonzalez, president and CEO of Williamsville, said.
Luse Gorman, PC is serving as legal counsel to Land of Lincoln Credit and Doeren Mayhew Advisors, LLC is serving as financial advisor to Land of Lincoln Credit Union. Howard & Howard is serving as legal counsel to Williamsville State Bank and WSB Financial. Olsen Palmer LLC is serving as financial advisor to Williamsville State Bank & Trust and WSB Financial.