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Achieva Credit Union in Dunedin, Fla., has agreed to buy Calusa Bank in Punta Gorda, Fla.
May 6 -
Five Star Credit Union in Dothan, Ala., has agreed to buy Farmers State Bank in Lumpkin, Ga.
February 18 -
The NCUA is considering a plan that would let credit unions count certain forms of debt as capital. The plan, which would help credit unions book more loans, is drawing sharp rebukes from the banking industry.
June 29
Avadian Credit Union in Birmingham, Ala., has agreed to buy American Bank of Huntsville in Alabama.
The $607 million-asset credit union
The $123 million-asset American Bank posted a second-quarter loss of $470,000, according to its Federal Deposit Insurance Corp. call report. That followed a first-quarter loss of $295,000. American Bank recorded an efficiency ratio of 120.26% in the first quarter.
American Bank, a thrift established in 1920, operates one branch, in Huntsville.
Avadian is a state-chartered credit union founded in 1934 to serve telephone company employees in Alabama.
Feldman Financial was financial adviser to Avadian and Howard & Howard was legal counsel. FIG Partners was financial adviser to American Bank and SmithAmundsen was legal counsel.