Wednesday, June 4, 2014

Florida Central Credit Union to Buy Bank Branch and Deposits

The Tampa Bay Business Journal is reporting that Florida Central Credit Union is seeking regulatory approval to buy a Sarasota branch along with the deposits from First Federal Bank of Florida.

The credit union plans to acquire the First Federal Bank branch office at 3451 Cattleman Road in Sarasota. The transaction would include the deposit accounts of about 600 bank customers, if they choose to opt in to credit union membership.

The bank branch had about $14.9 million in deposits as of June 30, 2013.

If approved by regulators, the deal should close in July.

Read the story.

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