The $279 million PrimeWay FCU of Houston is nearing regulatory completion for a merger with the ailing $125 million TexasOne Community CU, also of Houston.
A PrimeWay spokeswoman said, "We are waiting on the final paperwork" from the NCUA.
PrimeWay had announced in March a preliminary agreement to consolidate TexasOne, which suffered back-to-back losses of $2.8 million in 2009 and $4.7 million the year before. It also lost $655,000 in the first quarter of this year.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
