Tuesday, May 5, 2015

Achieva CU to Acquire Calusa Bank

Achieva Credit Union has signed an agreement to acquire Calusa Bank, a Florida state-chartered bank in Sarasota and Charlotte counties with $165 million in assets.

Under the terms of the merger agreement, Achieva will purchase all of the issued and outstanding shares of Calusa Bank, making this the first “whole bank” acquisition by a credit union, according to the negotiators.

The transaction requires shareholders and regulatory approval.

The Herald-Tribune is reporting that the purchase price is $23.2 million.

Read the news story.

Read the Herald-Tribune story.
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