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…
Category: CUs Buying Banks
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,…