X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Business deal handshake Source: BUNDITINAY/Shutterstock

The $10.5 billion Lake Michigan Credit Union said Thursday it plans to acquire the $656 million Pilot Bank in Florida for $96.1 million in cash.

The boards of directors of the Grand Rapids-based credit union and Pilot Bancshares Inc., the holding company for the Tampa-based bank and its National Aircraft Finance Company, agreed unanimously to a definitive agreement by which LMCU will pay $6.25 per share to Pilot Bank’s 295 stockholders.

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?

Peter Strozniak

Dig Deeper

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.