Alaska USA Trust Co., a subsidiary of the $5.5 billion Alaska USA Federal Credit Union, will be acquired by Alaska Trust Co.
The two entities have entered into a letter of intent whereby ATC will acquire all the outstanding stock of Alaska USA Trust from Alaska USA FCU in Anchorage, the credit union said.
The transaction is subject to the negotiation of a definitive stock purchase agreement, approval by the Alaska Division of Banking and Securities and approval by the respective boards of directors.
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