NCUA Approves Royal CU Deal For 11 Bank Branches

Register now

EU CLAIRE, Wis. -- NCUA this morning cleared an agreement by Royal CU to buy 11 branches from the troubled Anchor Bank, the biggest deal of its kind to date.

The deal, which will give the $1.1 billion credit union access to 20,000 Anchor Bank customers, has also been approved by the Wisconsin Office of CUs, the FDIC and Office of Thrift Supervision.

Financial terms of the agreement were not disclosed, but the branches are believed to have been acquired at a steep discount.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER