LAWRENCE, Kan. – Meritrust CU has filed papers with the state court to gain ownership to the Lawrence Athletic Club, whose owners have defaulted on a $2.4 million loan to the credit union.
As a result, the Wichita credit union now owns all of the club’s equipment, its business name and all other business interests.
The filing comes after longtime Lawrence Athletic Club owner Rick Sells and his Junkyard’s Jym corporation defaulted on a $2.4 million note with Meritrust.
Amerant Bancorp in Coral Gables, Florida, appointed Carlos Iafigliola its permanent president and CEO; Morton Community Bank in Illinois reached a deal to buy a three-branch franchise in the Land of Lincoln; Bank First in Manitowoc, Wisconsin, agreed to acquire PSB Holdings; and more in this week's banking news roundup.
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