FERNDALE, Wash. – Industrial CU has agreed to acquire Ferndale Refinery CU, a 57-year-old, $5 million credit union.
After the merger, the $165 million Bellingham credit union will close the tiny credit union’s lone branch and Ferndale Refinery’s only employee will join the larger credit union.
The merger is scheduled for completion Oct. 1
Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., have released compromise language on stablecoin yield for a long-awaited crypto market structure bill, clearing the way for a markup in the near future.
The FDIC moved quickly on Friday to sell $288 million in assets Community Bank and Trust – West Georgia to Anchor Bank, but the sale announcement leaves the fate of $27 million in uninsured deposits to be determined.
Market watchers think Jerome Powell will maintain a low-key presence on the Fed board as he awaits the release of an inspector general report examining cost overruns at the central bank's headquarters.
Banner Bank is poised to merge with Bank of the Pacific in an all-stock deal valued at $177 million. The two Washington-based commercial banks both have branches in Washington and Oregon.
BayFirst Financial in St. Petersburg named veteran Tampa-area banker Al Rogers as its CEO and announced an $80 million capital raise. The bank sold its SBA-lending business last year, but it's still struggling to work through problems in its legacy loan portfolio.
San Diego County Credit Union won a court ruling that should help in its effort to get out of its deal to merge with a local competitor. A lawyer for SDCCU said he believes the judge's decision "signals the end of any merger between the two institutions."
