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After starting the credit union bank acquisition trend in 2012, the $3.2 billion United Federal Credit Union in St. Joseph, Mich., said Tuesday it signed a definitive purchase and assumption agreement to buy in an all-cash transaction the $249 million Edgewater Bank, also based in St. Joseph.

Edgewater estimated its stockholders will receive between $39.47 and $43.22 per share in cash. As of Sept. 30, the bank had 733,310 shares outstanding.

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Peter Strozniak

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