The Bank Slate


A.E.A. Federal Credit Union agrees to buy Arizona bank

A.E.A. Federal Credit Union in Yuma, Ariz., has agreed to buy West Valley National Bank in Goodyear, Ariz.

The $350 million-asset credit union said in a press release that it expects to buy the $106 million-asset unit of West Valley Bancorp in the second quarter. The price wasn’t disclosed.

West Valley has three branches in the Phoenix area.

“By expanding our footprint eastward … we can do so more expediently,” Adele Sandberg, the credit union’s president and CEO, said in the release.

The transaction represents the 11th credit union-bank deal announced this year.

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