Deal Snapshot
United Federal Credit Union to Acquire Edgewater Bank in Michigan, USA
Wednesday 28 October 2020

Michigan, US-based United Federal Credit Union has signed a definitive purchase and assumption agreement with Michigan, US-based bank holding company Edgewater Bancorp, Inc (OTC: EGDW), the holding company of Edgewater Bank, to acquire the assets and assume the liabilities of Edgewater Bank in an all-cash transaction, the companies said.

Edgewater Bank operates five bank branches in Berrien County and two loan production offices in Fremont and Greenville, Michigan and had approximately USD 249.1m in assets as of September 30, 2020. United currently operates 37 branches in six states and has over 177,000 members.

Date Published: 28/10/2020