Friday, June 1, 2012

Shareholders Approve Sale of Bank to Credit Union

Shareholders of Monadnock Community Bank of Peterborough, New Hampshire approved the sale of the bank to GFA FCU in Gardner, Massachusetts.

Under the terms of the sale, GFA will pay $6.4 million to acquire the bank. This will be the second transaction where a credit union has acquired a bank; but the first deal involving a stockholder-owned bank.

The deal must still be approved by regulators.

Read more.

1 comment:

  1. Looks like the credit union is helping to pay back TARP money. That billions and billions of dollars used to help banks but not credit unions.



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