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NuMark Credit Union to acquire The Lemont National Bank Joliet, IL and Lemont, IL, March 12th, 2025 – NuMark Credit Union (“NuMark”) of Joliet, IL and The Lemont National Bank (“Lemont”) of Lemont, IL jointly announced today that they have entered into an agreement whereby NuMark will purchase substantially all of the assets and liabilities of The Lemont National Bank in an all-cash transaction. The board of directors of Lemont National Bank and NuMark Credit Union have unanimously approved the transaction. The transaction is subject to customary closing conditions, including receipt of shareholder and regulatory approvals and is expected to close in the second half of 2025. When the purchase is complete NuMark will have approximately $910 million in assets and increase its footprint with a total of 15 branches. NuMark Credit Union is federally insured by the National Credit Union Administration (“NCUA”). All accounts are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government by the NCUA and offer the same amount of coverage per depositor as offered by the FDIC. Credit unions generally provide financial benefits to members by charging less for loans, paying more on deposit, and charging fewer/lower fees compared to banking institutions. McQueen acted as financial advisor to NuMark Credit Union and Luse Gorman, PC acted as its legal advisor in the transaction. Olsen Palmer LLC served as financial advisor to The Lemont National Bank and Lemont Bancorp, Inc. and Barack Ferrazzano Kirschbaum & Nagelberg LLP served as its legal advisor. Statement from NuMark’s President & CEO: Lloyd Fredendall, President & CEO of NuMark stated, “We are excited for the opportunity to partner with The Lemont National Bank and look forward to welcoming their customers and employees into our family. It is clear to us that our organizations share a common vision in that we are both invested in the importance of putting people and community first in all that we do. As we welcome Lemont customers into the NuMark Credit Union family, we look forward to providing a top-notch experience by focusing on our member-owners’ needs, and offering value-added products, services, and technology in our on-going quest to help our members do more with their money.” Statement from Lemont’s Chairman, President & CEO: Hercules Bolos, Chairman, President & CEO of Lemont commented, “NuMark Credit Union is a high-performing, growing, and successful organization that has demonstrated a commitment to enriching the financial lives of its members and a passion to serving its communities. We are extremely excited to have found a partner that will continue to serve our customers in a manner they have come to expect from The Lemont National Bank.” About NuMark Credit Union NuMark Credit Union, with over $800 million in assets and more than 60,000 members, is a trusted financial institution serving Northeastern Illinois and Chicagoland across its footprint of 13 branches. Established nearly 70 years ago, NuMark offers a comprehensive range of financial services, all designed to help members achieve their financial goals. Guided by its core values—Passionate, Accountable, Collaborative, Knowledgeable, and Member Centric—NuMark's team of over 170 employees is dedicated to enriching the financial lives of its members and the communities it serves. For more information about NuMark Credit Union, visit www.numarkcu.org. About The Lemont National Bank The Lemont National Bank is Lemont’s oldest locally owned and operated community bank. Since its founding in 1901, the bank has remained devoted to its mission of exhibiting integrity and professionalism and providing the highest quality financial services to its community’s consumers and businesses. For questions please call The Lemont National Bank |
FDIC-Insured - Backed by the full faith and credit of the U.S. Government