Credit unions acquiring banks is a growing trend in the financial institution space. This course will explore the reasons why a credit union would consider buying a community bank and, vice versa, why a community bank would consider selling to a credit union. We will also discuss the strategic considerations for a credit union to contemplate adding bank acquisitions to their growth strategy. We will also review the transaction structures and their financial ramification. Lastly, the acquisition accounting utilized for these types of transactions will be examined.
Managing Director of Skyway Capital Markets in Tampa, Florida. Specializing in credit union/bank acquisitions and credit union issuance of secondary capital. Prior to joining Skyway, Senior Vice President and Chief Financial Officer of Achieva Credit Union (“Achieva”) in Dunedin, Florida, the first credit union to acquire a community bank via merger and the first credit union to acquire a second community bank. President of Achieva Merger Services (“AMS”), a wholly-owned subsidiary of Achieva formed in June 2017. The business model for AMS was to provide merger consulting services to credit unions and community banks interested in mergers with each other. Prior to joining Achieva, thirty-seven years in the banking industry as a C-suite executive, primarily as CFO, with publicly traded banks, privately held banks and a mutual savings bank. During this time involved in multiple mergers and acquisitions on both the buy and sell side, including the first Florida based financial institution to acquire out-of-state financial institutions.
CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222