DFCU Financial Expands in Florida with Winter Park National Bank Acquisition

Deal News | Nov 08, 2024 | Globenewswire

DFCU Financial Expands in Florida with Winter Park National Bank Acquisition

DFCU Financial, a major Michigan-based credit union, announced its intent to acquire Winter Park National Bank, a reputable financial institution in Winter Park, Florida. The acquisition signifies DFCU's continued expansion in Florida, aiming to enhance its financial service offerings and deliver superior member experiences in the region. Winter Park National Bank has established itself in the Winter Park-Orlando-Kissimmee area with a strong customer service reputation since its founding in 2017. The merger promises to blend DFCU's market-leading products and Winter Park's personalized banking services. As part of the transition, DFCU will retain Winter Park's leadership team and branch locations, ensuring a seamless experience for customers. The deal is pending regulatory approval, with both institutions working alongside advisors to complete the acquisition. This move marks DFCU's third transaction in Florida, reinforcing its strategic growth plan.

Sectors

  • Financial Services
  • Banking

Geography

  • United States – The article focuses on a transaction taking place within the United States, involving companies from Michigan and Florida.
  • Florida – Florida is the specific location of the acquisition target, Winter Park National Bank, and is the intended area for expansion by DFCU Financial.

Industry

  • Financial Services – The article discusses a strategic acquisition within the banking sector, highlighting DFCU Financial's expansion in Florida through the purchase of Winter Park National Bank.
  • Banking – Both companies involved in the article, DFCU Financial and Winter Park National Bank, operate within the banking industry, offering a range of financial products and services.

Financials

  • – The article does not specify the financial terms of the acquisition.

Participants

NameRoleTypeDescription
DFCU FinancialAcquiring CompanyCompanyA major Michigan-based credit union expanding its presence in Florida through acquisition.
Winter Park National BankTarget CompanyCompanyA financial institution headquartered in Winter Park, Florida, known for its customer service and community banking.
Ryan GoldbergPresident and CEO of DFCU FinancialPersonLeading DFCU Financial's expansion strategy in Florida.
David DotherowCEO of Winter Park National BankPersonWill become Central Florida Area President post-acquisition.
Donnelly Penman & Partners, Inc.Financial Advisor to DFCU FinancialCompanyInvestment banking firm advising DFCU Financial on the acquisition.
Honigman LLPLegal Advisor to DFCU FinancialCompanyLaw firm providing legal counsel to DFCU Financial.
Hovde Group, LLCFinancial Advisor to Winter Park National BankCompanyInvestment banking firm advising Winter Park National Bank on the transaction.
Smith Mackinnon, PALegal Advisor to Winter Park National BankCompanyLaw firm providing legal advice to Winter Park National Bank.