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.

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