Two people standing on separate pieces of a puzzle. Credit union announces acquisition. (Source: Shutterstock)

The $10 billion Vystar Credit Union in Jacksonville, Fla., agreed to buy the $1.5 billion Heritage Southeast Bank of Jonesboro, Ga., for $189 million, becoming the credit union industry’s largest-ever bank acquisition.

Under the terms of the purchase and assumption agreement, VyStar will pay the bank’s holding company, Heritage Southeast Bancorp. Inc., $27 per share in cash, according to a HSBI prepared statement.

Peter Strozniak

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