Credit union to buy Alabama branches from Synovus
Jefferson Financial Federal Credit Union in Metairie, La., has agreed to buy three branches in Alabama from Synovus Financial in Columbus, Ga.
The $32 billion-asset Synovus said in a press release Wednesday that the $947 million-asset credit union will buy branches in Mobile and Daphne. The credit union will gain $138 million in loans and $107 million in deposits.
The credit union will pay a $14.5 million deposit premium. The sale is expected to close in the first quarter.
The Burke Group and Alston & Bird advised Synovus. Howard & Howard advised the credit union.