AOD Federal Credit Union in Oxford, Ala., has agreed to buy a branch in Prattville, Ala., from Merchants & Farmers Bank of Greene County in Eutaw, Ala.
The $442 million-asset credit union did not disclose how much it will pay the $123 million-asset bank for the branch. The deal also includes $15 million in deposits and $10 million in loans.
The deal is expected to close in the fourth quarter.
“We have growth plans for the River Region, and this allows our expansion to be immediate.”
“We are thrilled about the proposed acquisition of the Prattville branch,” Virginia Bowen, the credit union’s CEO, said in a press release. “The branch is a natural extension [of] our existing field of membership in central Alabama.”
AOD was advised by Honigman. Olsen Palmer and Jones Walker advised the bank.