United Fidelity Bank in Evansville, Ind., has bought Bank of St. Croix in the U.S. Virgin Islands.
The $456 million-asset United said in a press release Wednesday that it picked up two branches, along with “substantially all of the assets and certain deposits” at the $145 million-asset Bank of St. Croix. United did not disclose the price it paid.
“It has been our continued goal to move into markets with stable core deposit funding, and dynamic lending opportunities,” Donald Neel, United’s president and CEO, said in the release. “As part of our opportunistic growth strategy, we also seek out prime locations and identify outstanding employees.”
Bank of St. Croix will retain its name.
United, meanwhile, has branches in far-flung markets such as Cincinnati, Chicago, Denver and Ft. Myers, Fla.