San Francisco Federal Credit Union to Acquire Summit Bank Branches in East Bay, California

CrossCountry Mortgage Acquires Summit Funding

March 20, 2026

Financial Services

CrossCountry Mortgage has entered into an agreement to acquire Summit Funding, a privately held mortgage banker and servicer headquartered in Sacramento, California. The deal is intended to expand CrossCountry Mortgage’s reach and resources for Summit’s workforce of loan originators across the U.S.

Michigan State University Federal Credit Union to Acquire Algonquin State Bank

August 31, 2023

Financial Services

Michigan State University Federal Credit Union (MSUFCU) has entered into a definitive purchase and assumption agreement to acquire substantially all assets and assume substantially all liabilities of Algonquin State Bank. The deal is expected to close in the late first quarter of 2024, subject to regulatory approvals and customary closing conditions, including approval by Algonquin’s parent shareholders.

United Federal Credit Union Acquires Edgewater Bank

October 27, 2020

Financial Services

United Federal Credit Union will acquire the assets and assume the liabilities of Edgewater Bank in an all-cash transaction. Edgewater Bancorp and Edgewater Bank will liquidate and distribute remaining cash to stockholders; the deal expands United's branch network and increases its assets to roughly $3.5 billion.

EverBank Financial Completes Acquisition of Sterling Bank and Trust, F.S.B.

March 31, 2025

Financial Services

EverBank Financial Corp completed its acquisition of Sterling Bank and Trust, F.S.B. from Sterling Bancorp, Inc. The deal adds 25 Sterling Bank branches in the San Francisco Bay Area and Los Angeles/Orange County, plus a branch in Flushing, New York.

Benchmark Federal Credit Union to Merge into Franklin Mint Federal Credit Union

June 10, 2025

Financial Services

Benchmark Federal Credit Union and Franklin Mint Federal Credit Union have entered into a definitive merger agreement, with Benchmark set to merge into Franklin Mint, subject to regulatory approval and Benchmark membership approval. The merger is expected to be completed in early 2026 and will expand member access to banking solutions, branches/ATMs, and digital tools while preserving local service and decision-making.

Summit Fire & Security Acquires Bay Area Fire & Safety

May 24, 2021

Industrial Services

SFP Holding, Inc. (Summit Companies) announced that subsidiary Summit Fire & Security LLC has completed the purchase of Bay Area Fire & Safety, Inc., a fire protection services provider located just outside Houston, Texas. The acquisition brings Bay Area's technicians and service offerings into Summit's Houston branch to expand regional capacity and capabilities in fire alarm, sprinkler, suppression, extinguisher, backflow and security services.