DFCU Financial in Dearborn, Mich., has agreed to buy Gulfside Bank in Sarasota, Fla.
The $8 billion-asset DFCU said in a press release that the $345 million-asset Gulfside would be its fourth acquisition in Florida since 2023. Gulfside has $256 million in loans and $294 million in deposits.
The price wasn’t disclosed.
“This acquisition represents an important milestone in our long-term growth strategy and reflects our shared commitment to delivering exceptional service, building lasting relationships, and creating meaningful value for our members and communities,” Ryan Goldberg, DFCU’s president and CEO, said in the release.
“By bringing our organizations together, we are combining complementary strengths, expanding our capabilities, and positioning the combined institution for continued success,” Goldberg added.
Dennis Murphy, Gulfside’s president and CEO, will become a market president. The plan is to integrate and rebrand the bank in the second half of 2027.
DFCU was advised by FHN Financial Securities and Honigman. Gulfside was advised by Hovde Group and Smith Mackinnon.