CU acquires bank in Florida. (Source: Shutterstock)

Six months after announcing its plans to acquire Pilot Bank, Grand Rapids, Mich.-based Lake Michigan Credit Union completed the purchase of the $656 million bank located in Tampa, Fla. on Tuesday.

A statement from LMCU ($10.6 billion in assets, 420,165 members) read the “acquisition represents a number of positive developments for the members of both LMCU and Pilot Bank.” The statement also pointed out that LMCU now has 19 branches throughout Southwest Florida, including the six new branches from the acquisition of Pilot Bank.

Michael Ogden

Editor-in-Chief for CU Times.

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