First Commerce Credit Union (Tallahassee, FL) announced on September 16 that it would purchase and assume certain assets and liabilities of The Citizens Bank (Nashville, GA).
The purchase has been approved by the boards of directors of both institutions and is expected to close in the second quarter of 2020, subject to customary closing conditions and shareholder and regulatory approvals.
First Commerce CU has $620 million in assets.
The Citizens Bank has $248 million in assets and $212 million in deposits and almost 15,000 customers. The bank has 4 offices -- 2 in Berrien County and 1 each in Cook and Lowndes Counties.
The price of the transaction was not disclosed.
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