Last May (JRN 39:20), we reported that regulators were becoming more critical of CU-bank acquisitions. At least one such deal was cancelled in 2022 as a result. 4-Star Vystar CU, Jacksonville, Florida, unable to get any state or federal regulator…
Category: CUs Buying Banks
Credit Union Industry’s Growing Footprint
As the nation’s banking industry continues to contract, losing more than 3,000 branch offices in the 12 month period ending March 31, 2022 (JRN 39:27), credit unions are growing their presence, albeit slowly. During the same 12 month period, federally-insured…
Some CUs Bank on Bank Deals, Most Don’t
On May 12th, 5-Star DFCU Financial, a $6.456 billion credit union headquartered in Dearborn, MI, announced it will enter the Florida market with the purchase of 4-Star First Citrus Bank, Tampa. First Citrus Bank has $660 million in assets and…
Nine Pending Bank Acquisitions by CUs
When we last reported on Credit Union-Bank acquisitions in April (JRN 38:16), we said they were heating up, and they sure have. The third quarter was particularly active. One such transaction involves JRN listee 5-Star Financial Federal Bank, Memphis, TN,…