Downtown Chicago. (Source: Shutterstock) Downtown Chicago. Credit/Shutterstock

In the span of just four days, officials with credit unions in Michigan and Alabama have announced their second bank acquisition deals.

On Thursday, the $7.7 billion Michigan State University Federal Credit Union (MSUFCU) in East Lansing signed a definitive purchase and assumption agreement with the $144 million Algonquin State Bank in Algonquin, Ill. On the same day, the $773 million Five Star Credit Union in Dothan, Ala., also said it inked an agreement to acquire the $178 million Wilcox County State Bank in Abbeville, Ga. Financial terms of these purchase agreements were not disclosed.

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?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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 © 2023 ALM Global, LLC. All Rights Reserved.