Mission Bank manages $181 million in deposits and $75.4 million in loans. It recorded net income of $87,000 at the end of the first quarter, according to its FDIC filings.

Located 215 miles north of Yuma, the city of Kingman has a population of more than 35,000. According to the Arizona Commerce Authority, Kingman is a regional trade, service and distribution center for state’s northwestern region. Its proximity to Los Angeles, Las Vegas, Phoenix, Grand Canyon West and the Grand Canyon makes Kingman attractive for the tourism, manufacturing, warehousing/distribution and transportation industries.

If federal and state regulators and the bank’s shareholders approve the proposed acquisition, Avenir Financial would manage approximately $574 million in assets and seven branches across Yuma and Mohave counties.

The credit union currently employs 97 people and operates four branches — two in Yuma, and one each in San Luis and Somerton — serving more than 34,000 members.

The acquisition announcement, released by Avenir Financial’s attorneys, Luse Gorman PC in Washington, D.C., did not specify when the transaction would be expected to close.

Neither the credit union nor the bank responded to CU Times' requests for comment.

This is the industry’s seventh proposed credit union-bank acquisition deal publicly announced this year.

Peter Strozniak can be reached at [email protected].