Saturday, April 6, 2019

Texas Farm Bureau FCU Sells Loans and Branch to Alliance Bank Central Texas

The American Banker is reporting that Alliance Bank Central Texas (Waco, TX) is buying all the loans and the only branch of Texas Farm Bureau Federal Credit Union (Waco, TX).

Texas Farm Bureau FCU had $6.7 million in assets and $3.4 million in loans, as of December 31, 2018.

The credit union's membership approved the sale on March 25.

The credit union had approached several credit unions about a merger, but was rebuffed when maintaining the headquarter's branch was proposed as a condition of the merger.

The price of the transaction was not disclosed.

Read the American Banker.
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