Achieva CU to Acquire Preferred Community Bank

Achieva Credit Union (Dunedin, FL) signed a definitive agreement to acquire Preferred Community Bank (Fort Myers, FL).

The 116 million bank has three branches in Fort Myers, Lehigh Acres, and Cape Coral.

Under the terms of the merger agreement this will be a whole bank acquisition.

The transaction is expected to close later this year and is subject to Preferred Community Bank shareholder and regulatory approvals.

When the transaction is completed, this will be the second community bank acquired by Achieva Credit Union. Three years ago, the credit union acquired Calusa Bank.

Read the press release.