Growth strategies

The credit union said the $600 million-asset milestone represents growth of more than 3 percent since the end of 2016.

Sierra will pay $36 million for the parent of the $257 million-asset Ojai Community Bank in a deal that should close by the end of this year.

The deal is the latest coastal acquisition for United Community. For HCSB, the sale is the final chapter in a turnaround that began 13 months earlier.

The Office of the Comptroller of the Currency has given preliminary conditional approval for Winter Park National Bank, allowing organizers to work on office space, hire staff and raise capital.

Indianapolis-based CU has operated an insurance CUSO since 2004.

The company has hired an investment bank to help it consider strategic alternatives, which could also include recapitalizing.

CUs will have improved opportunities to add areas, sources say, but new rules ‘not a panacea.’

The deal, which is expected to close in the fourth quarter, values Cornerstone at $25.8 million.

Bank of Montreal, Canada's oldest lender, has turned to a former investment banker with an interest in continued U.S. expansion to lead the firm into its third century.

SEG-based CUs could see a particularly big benefit from the rules, observers say, but community-chartered institutions and others could also see a significant boost.