Monday, March 16, 2020

First Community CU Plans to Buy 3 Branches from Umpqua Bank

First Community Credit Union (Coquille, OR) announced on March 11 that it has entered into a purchase and assumption agreement with Umpqua Bank (Roseburg, OR) to acquire three store (branch) locations in Oregon.

The branch locations included in the transaction are located in John Day, Burns, and Lakeview.

According to the June 2019 Summary of Deposits data, the John Day branch had $28.6 million in deposits, the Burns branch had $32.6 million in deposits, and the Lakeview branch had $37 million in deposits.

The agreement is subject to regulatory approval and is expected to close in June of this year.

The price tag of the transaction was not disclosed.

Read the press release.

No comments:

Post a Comment


The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.