TNB Sells Card Processing Business to Fifth Third Processing Solutions
After almost 35 years processing credit union credit card transactions, Town North Bank has sold off its last stake in card processing. The credit union-owned bank sold its card processing division, TNB Card Services, to Fifth Third Processing Solutions.
The sale, the terms of which were not disclosed, closed on July 6. But a source involved in the initial stage of the sale process reported that early price quotes ranged from $30 million to $60 million.