Growth strategies

Ken Lehman recently bought a block of shares in Village Bank & Trust Financial.

At the end of the second quarter, the corporate institution will waive service fees and issue bonus dividends to its member credit unions.

The Montana-based institution will open its doors as Clearwater later this year, a move leadership hopes will better connect it with consumers in other parts of the state.

Credit unions can usually limit attrition of consumer accounts after a bank acquisition, but maintaining relationships with business customers is the bigger challenge.

If signed into law, institutions that qualify for the Banking Development District program will be eligible to receive up to $10 million in subsidized public funds.

The deal with Frandsen Financial is the 12th bank M&A transaction this year involving a seller in Wisconsin.

Shore Community Bank, which has five branches in Ocean County, will sell for $53 million.

Nearly 100 institutions now take part in the initiative to bring affordable financial services to Spanish-speaking and immigrant consumers.

The Michigan-based CUSO has acquired a stake in NestReady, giving it exclusive industry rights on the mortgage technology firm's products.

The Orange County-based CU had served a few cities around Los Angeles but state officials have now approved its application to serve all of Los Angeles County.