The Bank Slate


Five Star Credit Union lines up third bank acquisition

Five Star Credit Union in Dothan, Ala., has lined up its third bank acquisition.

The $775 million-asset credit union said in a press release that it has agreed to buy the $215 million-asset OneSouth Bank in Macon, Ga. The price wasn’t disclosed.

The deal is expected to close in the second quarter.

Five Star bought Flint River National Bank in 2014 and Farmers State Bank a year later.

“Five Star Credit Union and OneSouth Bank have over 140 years of combined service … and share similar values,” Bob Steensma, the credit union’s president and CEO, said in a press release.

OneSouth and Five Star “share many philosophies that will enable this agreement to be a win for all parties involved,” Kim Davis Wilson, the bank’s president and CEO, said in the release.

Six credit unions have agreed to buy banks this year.

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