Wednesday, November 16, 2016

Guardian CU Buys Two Bank Branches and Deposits

Guardian Credit Union (Montgomery, AL) announced that it has reached an agreement with SouthCrest Financial Group to purchase its two Alabama offices and all related deposits and assets.

The two branches are located in Chilton County.

Guardian will pay a 5 percent deposit premium on the total deposits transferred, which are expected to be about $45 million, and purchase more than $6 million worth of loans.

The sale is subject to regulatory approval and is expected to close in early 2017.

Read the story.

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