Land of Lincoln Credit Union in Decatur, Illinois, announced Friday that it plans to acquire Williamsville State Bank and Trust, a community bank with $97 million in assets and three branches in Sangamon County.

The all-cash transaction—unanimously approved by the boards of both institutions—is expected to close in the first half of 2026, pending regulatory and shareholder approvals. Upon completion, Land of Lincoln will assume substantially all assets and liabilities of Williamsville, increasing its total assets to approximately $576 million and expanding its branch network to 18 locations.

The purchase price was not disclosed.

“The acquisition is part of Land of Lincoln’s strategic growth plan, which includes adding branches to better assist our members in Illinois.,” said Robert Ares, President and CEO of Land of Lincoln Credit Union.

Catherine Gonzalez, President and CEO of Williamsville, echoed the sentiment: “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.”

Story continued below…

This marks Land of Lincoln’s second bank acquisition following its 2023 purchase of Nokomis Savings Bank. The deal is part of a growing national trend of credit unions acquiring community banks—an increasingly common strategy to accelerate market expansion.

The most recent credit union purchase of an Illinois-based community bank was NuMark Credit Union’s acquisition of The Lemont National Bank, which was announced in March.

So far in 2025, 11 such deals have been announced. Though slightly behind last year’s record-setting pace of 22, the activity underscores a shift in the financial services landscape, as credit unions continue to push into traditional banking territory.

Most recently, OnPath Federal Credit Union in Metairie, Louisiana, agreed to buy $183 million-asset Heritage Bank of St. Tammany in July.

Those on the community bank side of the table continue to rail against these deals.

“Billion-dollar credit unions are responsible for more than 80% of community bank acquisitions, with nearly two-thirds of acquisitions involving a bank with a positive net operating income in the preceding five years,” said Independent Community Bankers of America President and CEO Rebeca Romero Rainey.

Williamsville State Bank and Trust reported net income of $335,000 in the first half of 2025 after earning $291,000 the first six months of 2024, according to the FDIC.

Land of Lincoln has more than 35,000 members and earned $1.3 million in the first half, a 3% decrease compared to a year earlier, according to call report data from the National Credit Union Administration.

“The acquisition is part of Land of Lincoln’s strategic growth plan, which includes adding branches to better assist our members in Illinois.”

 – Robert Ares
President and CEO
Land of Lincoln Credit Union