Growth strategies

Banks from the North and South are converging on the city, spurred by a spike in deposits and employment numbers that trump national averages.

After the merger is completed, Cedars-Sinai Federal Credit Union's one branch will be relocated.

SmartFinancial lined up a compelling merger with Entegra. Then a bigger bank offered more money and a higher premium.

Members of Bard Employees Federal Credit Union approved the merger into Baxter Credit Union earlier this month.

Entegra Financial, which had a deal to be sold to SmartFinancial, has instead agreed to be sold to First Citizens, which offered more money and will pay a breakup fee for the initial deal.

The credit union is also developing a new shared branching space as part of a unique co-location strategy.

The latest World Council of Credit Unions project in the Caribbean will see the island nation working alongside Indiana CUs to share best practices, strategic initiatives and more.

The proposed combination of Sharon Credit Union and Crescent Credit Union still needs approval from regulators and members.

The acquisition also includes $525 million in deposits and $120 million in loans.

The Rhode Island bank’s deposit costs nearly doubled in the first quarter, but CEO Bruce Van Saun says it has to go on the offensive to sustain loan growth.