Nusenda Federal Credit Union in Albuquerque, N.M., has agreed to buy Western Heritage Bank in Las Cruces, N.M.
The $4.1 billion-asset Nusenda did not disclose the price it will pay for the $335 million-asset Western Heritage. The deal is expected to close late this year or early 2024.
This would be the first bank acquisition for Nusenda.
Nusenda is the fourth credit union to agree to buy a bank in 2023. It would be the first credit union-bank deal in New Mexico.
Mercer Capital and Honigman advised Nusenda. D.A. Davidson and Fenimore Kay Harrison advised Western Heritage.