APCU/Center Parc Credit Union To Acquire Covington, Georgia-Based Affinity Bank, A Wholly-owned Subsidiary Of Affinity Bancshares
Portfolio Pulse from Benzinga Newsdesk
APCU/Center Parc Credit Union is set to acquire Affinity Bank, a subsidiary of Affinity Bancshares. The transaction is expected to close in late 2024 or early 2025, after which Affinity and Affinity Bank will liquidate and distribute remaining assets to shareholders.
May 30, 2024 | 8:45 pm
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APCU/Center Parc Credit Union will acquire Affinity Bank, a subsidiary of Affinity Bancshares. The transaction is expected to close in late 2024 or early 2025, followed by the liquidation of Affinity and Affinity Bank, with remaining assets distributed to shareholders.
The acquisition of Affinity Bank by APCU/Center Parc Credit Union is a significant event for Affinity Bancshares (AFBI). The transaction will result in the liquidation of Affinity and Affinity Bank, with remaining assets distributed to shareholders. This is likely to have a positive short-term impact on AFBI's stock price as shareholders anticipate the cash distribution.
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