Excerpt:
When Vystar CU agreed to acquire the assets of Perry, Fla.-based Citizens State Bank, it marked the first deal of the New Year involving a credit union buying a bank. At closing the deal would be the largest U.S. credit union ever to buy a community bank, according to S & P Global Market Intelligence data.
U.S. credit unions announced nine deals to acquire banks in 2018. There were six credit union-buying-bank deals announced in 2017.
Skyway Capital Markets served as financial advisor on the transaction.