Sharonview Federal Credit Union, one of the nation’s top 200 credit unions, today announced its purchase of two Bank OZK® (Nasdaq: OZK) branches in South Carolina. The deal to acquire the Hilton Head Island and Bluffton locations is expected to close in the fourth quarter, pending regulatory approval.
After the transaction closes, Sharonview expects to serve 92,000 members at 18 branches in North Carolina and South Carolina. The two branches have combined deposits of $107 million and a small loan portfolio.
“We are thrilled to expand our footprint and serve more members in South Carolina,” said Sharonview President and CEO Bill Partin. “We promise to deliver excellent customer service and to be active supporters of these communities where members live, work and play.”
Sharonview, voted in 2018 the No.1 credit union in South Carolina by Forbes, has been serving its members since 1955. Today, Sharonview serves over 90,000 members nationwide, has assets totaling more than $1.6 billion and operates 16 branches in North Carolina and South Carolina.