ELGA Credit Union Acquires Marine Bancorp of Florida (Marine Bank & Trust)
March 9, 2026
ELGA Credit Union completed its acquisition of Marine Bancorp of Florida, Inc., the holding company for Marine Bank & Trust Company. Under the terms of the agreement, Marine Bank shareholders received $43.75 in cash per share, and Marine Bank was rebranded as Marine – A Division of ELGA Credit Union.
- Buyers
- ELGA Credit Union
- Targets
- Marine Bancorp of Florida, Inc., Marine Bank & Trust Company
- Industry
- Financial Services
- Location
- Michigan, United States
- Transaction Type
- Buyout
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