The Chicago skyline.

Verve Credit Union in Oshkosh, Wis., will pay approximately $43 million in cash to buy South Central Bank, the Chicago, Ill.-based financial institution said Tuesday.

If approved by regulators, the deal would increase Verve's current assets from $961 million to more than $1.2 billion, expand its marketplace with five branches in the near south and near west sides of the Windy City, and open up access to more than 1,000 small business customers the community bank said it serves.

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