Advia Credit Union in Parchment, Mich., has agreed to buy Peoples Bank in Elkhorn, Wis.

The $1.2 billion-asset Advia said in a press release Monday that it expects to complete the acquisition of the $230 million-asset Peoples in the third quarter. The credit union did not disclose the price it will pay.

"Advia is a strong financial institution that has the size, resources and commitment necessary to competitively meet the financial needs of not only our consumer clients, but also our commercial, agricultural, municipal and nonprofit customers," Tom Oehler, Peoples' president and CEO, said in the release.

Advia last year bought the $84 million-asset Mid America Bank in Janesville, Wis.

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