Tuesday, December 3, 2019

Suncoast CU to Acquire Apollo Bank

Suncoast Credit Union (Tampa, FL) announced today that it signed a definitive agreement to purchase Apollo Bank (Miami, FL).

Suncoast CU has $10.4 billion in assets. Apollo Bank has 5 branches and $746 million in assets.

This is the largest bank to be acquired by a credit union.

The purchase price was not disclosed.

The transaction is expected to close in 2020, subject to customary closing conditions and shareholder and regulatory approvals. The Boards of both financial institutions previously approved the purchase.

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