Credit Union One to Acquire Hantz Bank

Credit Union One (Ferndale, MI) is acquiring Hantz Bank (Southfield, MI).

Hantz Bank has $220 million in assets and six branches. The bank has paid almost $3 million in applicable income taxes in 2016 and 2017, according to its most recent call reports.

Credit Union One has $1.2 billion in assets and 20 branches.

Terms of the deal were not disclosed. The acquisition is subject to regulatory approval and expected to close later this year.

Read the story.