Growth strategies

For the second time in six months, Birmingham Bloomfield CU is absorbing another nearby credit union that will operate as "a part of" BBCU.

The proposed merger will create a $10 billion-asset bank based in Nashville, Tenn.

The company will pay $29 million for Virginia Bank Bankshares.

If credit union lenders and underwriters aren't working collaboratively, they could be hindering growth opportunities.

The Southeast banks expect to complete their merger by midyear, hit their savings targets and still be able to invest in growth, according to Bryan Jordan.

Following a 44% jump in the number of CU-bank acquisitions in 2019, some observers believe the volume could plateau this year.

The company will pay $24 million in cash for Central Federal Bancshares.

The Colorado Banking Board may be the first regulator to ever block a credit union-bank merger.

Colorado's State Banking Board voted 6-1 to stop Elevations Credit Union from buying Cache Bank & Trust. This is believed to be the first time regulators have blocked such a deal.

The Massachusetts savings bank will gain branches in two communities as part of the acquisition.