Combination Creates Second-LargestCorporate

January 24, 2006, 1:00 a.m. EST 1 Min Read

WARRENVILLE, Ill. - (01/24/06) The boards of Mid-StatesCorporate FCU and Empire Corporate FCU have approved a definitiveagreement to merge. Plans call for Joseph Herbst, president ofEmpire, to become CEO of the yet-to-be-named entity, while DavidPreter, president of Mid-States, will become president. Theheadquarters will be in the Chicago suburb of Warrenville, Ill,with operations being retained in Albany. The combination willcreate a corporate with almost $8.5 billion in assets and serving2,100 natural person credit unions, exceeded only by WesCorpFCUs $23 billion and Southwest Corporate's $9.2billion.

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