Indiana Members Credit Union completes acquisition of Commerce Bank
INDIANAPOLIS, IN (January 22, 2020) — Indianapolis-based Indiana Members Credit Union (“IMCU”), completed its acquisition of Evansville-based Commerce Bank (“Commerce Bank”), effective January 21, 2020.
Commerce Bank’s customers became IMCU members and will continue to be served by the same dedicated leaders and staff at the same convenient locations in Evansville, Clarksville and New Albany, Indiana. With Commerce Bank’s $183 million in assets, IMCU now has over $2.2 billion in assets and serves 130,000 members through 31 locations in Central, Southern and Southwestern Indiana.
Commerce Bank was represented by SmithAmundsen and Keefe, Bruyette and Woods. IMCU was represented by Krieg DeVault LLP and Renninger & Associates, LLC.
Ron Collier, IMCU President and CEO, signing acquisition closing documents.
About Indiana Members Credit Union
Indiana Members Credit Union, headquartered in Indianapolis, Indiana, was founded in 1956 on the campus of IUPUI. IMCU has since grown to 32 branches in Central and Southern Indiana, offering consumer and business members a full array of products and services. Traditionally offering better rates on loans and deposits, IMCU maintains true to its roots by “Keeping It Simple” for members. For more information, please visit IMCU online at www.imcu.com.