United Federal Credit Union Acquires Edgewater Bank

United Bankshares Acquires Community Bankers Trust Corporation (Essex Bank)

December 3, 2021

Financial Services

United Bankshares, Inc. completed its acquisition of Community Bankers Trust Corporation, the parent company of Essex Bank, adding an organization with approximately $1.7 billion in assets and headquarters in the greater Richmond, Virginia region. The deal expands United’s Mid‑Atlantic footprint into additional Virginia and Maryland markets; former Community Bankers Trust President and CEO Rex L. Smith III was retained as a Regional President for the former Essex Bank locations.

Michigan State University Federal Credit Union Acquires 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 and its parent, First Algonquin Company. The transaction, which is subject to customary regulatory and shareholder approvals and expected to close in late Q1 2024, expands MSUFCU’s presence in the Chicago market and increases its Illinois footprint to 10 branches (35 branches across two states) and contributes to a combined institution with roughly $8.3 billion in assets.

First Federal Bank Acquires Watson Mortgage Corp. Mortgage Business

April 18, 2024

Financial Services

First Federal Bank has signed a definitive agreement to acquire the mortgage business assets of Watson Mortgage Corp., bringing Watson's loan officers and customer relationships into First Federal's residential lending platform. The acquisition expands First Federal's retail lending capabilities and market share across the Watson Realty footprint while Watson Realty will transition mortgage servicing to the bank and retain its broader real estate operations.

United Community Banks Acquires Three Shores Bancorporation and Seaside National Bank & Trust

July 1, 2020

Financial Services

United Community Banks, Inc. completed its merger with Three Shores Bancorporation, Inc., effective July 1, 2020, with Three Shores' bank subsidiary Seaside National Bank & Trust merging into United's bank subsidiary. United will continue to operate Seaside locations under the Seaside Bank and Trust brand and expects the deal to expand its Florida presence while adding Seaside's wealth management capabilities to United's offerings.

EverBank Financial Corp Acquires Sterling Bank and Trust, F.S.B.

March 31, 2025

Financial Services

EverBank Financial Corp (through EverBank, N.A.) completed the acquisition of Sterling Bank and Trust, F.S.B. from Sterling Bancorp, Inc., acquiring 25 branches, approximately $900 million of loans and about $2.0 billion in deposits. Sterling Bancorp received a fixed purchase price of $261 million and will file a certificate of dissolution as Sterling Bank is merged into EverBank effective April 1, 2025.

DFCU Financial Acquires MidWestOne Bank's Florida Operations

June 10, 2024

Financial Services

DFCU Financial completed the acquisition of MidWestOne Bank's Florida operations, adding branches and customers in the Naples-Marco Island and Cape Coral–Fort Myers MSAs. The move expands DFCU's field of membership into Lee, Collier and Charlotte counties and brings MidWestOne’s Florida customers and employees into DFCU.