America First Federal Credit Union in Riverdale, Utah, has agreed to buy Meadows Bank in Las Vegas.
The $23 billion-asset America First aims to be the biggest credit union to buy a bank. It did not disclose the price it plans to pay for the $1.4 billion-asset Meadows.
Meadows has six branches in Nevada and Arizona.
The deal “will further strengthen America First’s ability to provide its members with comprehensive business solutions and provide Meadows’ customers with access to a full suite of consumer products and services,” the financial institutions said in a press release. “It is an important milestone in meeting the financial needs of this dynamic region.”
Meadow is the 12th bank to agree to sell to a credit union this year. It is also believed to be the first Nevada bank to agreed to sell to a credit union.