Kalamazoo, Mich. – Advia Credit Union, a Michigan-based financial institution with over $3 billion in assets, announced its agreement to acquire NorthSide Community Bank, expanding its reach into northeastern Illinois. This marks Advia’s third bank acquisition in 2024, solidifying its commitment to strategic growth and regional expansion.
The acquisition, expected to close in the third quarter, will bring NorthSide’s $255 million in assets and four branches under the Advia umbrella. This strategic move elevates Advia’s total assets beyond $3 billion, expands its employee count to over 550, and strengthens its membership base to approximately 200,000 across 32 branches in Michigan, Illinois, and Wisconsin.
“We are excited to welcome NorthSide’s customers to Advia’s membership,” said Jeff Fielder, Advia’s CEO. “Our mission is to provide financial advantages to all our members, and we believe NorthSide’s talented team and strong community presence align perfectly with our values.”
This acquisition follows Advia’s successful integrations of Mid America Bank in Janesville, Wisconsin (2016) and Peoples Bank in Elkhorn, Wisconsin (2017), underscoring its commitment to service enhancement and geographic expansion.
Patti Clausen, CEO of NorthSide Community Bank, expressed confidence in the partnership, stating, “Advia is well-positioned to meet the diverse financial needs of our commercial and consumer clients. This agreement represents a strategic alignment that will benefit all stakeholders.”
While bank-credit union mergers have faced scrutiny in some quarters, the Midwest has witnessed a rise in such partnerships. Pending regulatory and shareholder approvals, this acquisition will solidify Advia’s regional presence with 32 branches across three states.
NorthSide Community Bank, established in 1997, boasts a loyal customer base and significant deposit and loan portfolios. Advia’s Illinois expansion builds upon its previous acquisition of Golden Eagle Community Bank in Woodstock, Illinois (2019), further demonstrating its commitment to community engagement and volunteerism.
Upon finalization, this strategic move will solidify Advia’s position in Illinois and southern Wisconsin, complementing its existing Michigan operations. With a growing membership exceeding 203,000, Advia remains dedicated to providing financial advantages and strengthening communities across its expanding footprint.
Key takeaways:
- Advia Credit Union acquires NorthSide Community Bank in a strategic expansion move.
- The deal strengthens Advia’s presence in Illinois and elevates its assets to over $3 billion.
- Both institutions emphasize shared values and commitment to customer service.
- This acquisition signifies a growing trend of bank-credit union mergers in the Midwest.
