Cottage Grove-based Summit Credit Union plans to acquire West Bend-based Commerce State Bank in a deal that will expand its southeastern Wisconsin presence.

Terms of the deal, which is expected to close in the third quarter, were not disclosed. If completed, it will be Summit’s first acquisition of a bank.

The combined entity would have $6 billion in assets and 54 locations. Summit already has a southeastern Wisconsin presence with locations across Milwaukee, Waukesha, Racine and Kenosha counties. Commerce State Bank has offices in West Bend, Cedarburg, Sheboygan and Elm Grove.

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