Regulators don't have a charter conversion application from the $209 million credit union, which sent ballots to members in May.
The $209 million California credit union cites limits on business lending as its reason to leave the credit union fold.
The $399 million Florida Central Credit Union in Tampa plans to buy a First Federal Bank of Florida branch in Sarasota, Florida Central President/CEO Laida Garcia said last week.
The $399M credit union could potentially gain 600 new members and about $12M in deposits.
Purchase would mark fourth credit union takeover of bank in past year and a half.
During a closed meeting, the NCUA Board unanimously approved Landmark Credit Union’s acquisition of Hartford Savings Bank, subject to approval from the FDIC, according to a Board Action Bulletin posted last week on the NCUA’s website.
Landmark has completed 10 credit union mergers in the past three years. This is its first acquisition of a bank.
Massachusetts credit union's assumption first of its kind in the United States, credit union's president says.
When CEO Ron Kase joined Landmark Credit Union 39 years ago, he expected it to grow, but he likely would not have wagered it would reach $2.2 billion by the time he retires in January.