U.S. Eagle FCU to bolster cannabis program with community bank acquisition
The deal marks the14th transaction announced this year in which a credit union is acquiring a bank. There were 11 such deals announced all of last year.
U.S. Eagle Federal Credit Union plans to acquire Southwest Capital Bank, the companies announced in a joint press release.
Both institutions are based in Albuquerque, New Mexico, and the purchase price was not disclosed.
It is the 14th deal announced in 2024 in which a credit union is buying a bank.
The $1.5 billion-asset U.S. Eagle said the deal will bolster its cannabis lending and banking services in a state that has seen a fast-growing movement in the recreational industry.
continue reading »