Thursday, July 26, 2018

IBM Southeast Employees' CU to Acquire Another Bank

IBM Southeast Employees’ Credit Union (Delray Beach, FL) announced the proposed merger and acquisition of The Oculina Bank (Vero Beach, FL), pending regulatory approval.

The Oculina Bank has $342 million in assets and operates 8 offices in Indian River, Martin, and St. Lucie Counties in Florida.

The price tag of the deal was not disclosed.

If completed, this will be the second bank to be acquired by IBM Southeast Employees' Credit Union. In 2017, the $1.1 billion credit union acquired Mackinac Savings Bank.

Read the press release.

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