Monday, August 4, 2014

First Commerce CU to Purchase FNB of Crestview

First Commerce Credit Union (Tallahassee, FL) and First National Bank of Crestview (FNBC) have entered into an agreement for First Commerce to purchase FNBC.

The agreement has been approved by the boards of both financial institutions and includes the purchase of assets and assumption of liabilities.

The transaction will require the approval of four state and federal regulatory agencies, which the financial institutions hope can be processed by late 2014/early 2015.

If this transaction is completed, this would be the sixth bank to be acquired by a credit union.

Read more.
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