The $655 million-asset Power Financial Credit Union in Pembroke Pines, FL announced that it had agreed to buy the $204 million-asset TransCapital Bank in Sunrise, FL.
The deal is expected to close in the third quarter.
This marks the fourth deal announced this year where a credit union is acquiring a bank. In each case, the seller was based in Florida.
Skyway Capital served as Power Financial’s financial advisor, making it their third deal of this kind in 2019.