Today, the $1.1 billion IBM Southeast Employees’ Credit Union (IBMSECU) in Delray Beach, Florida, is proud to announce the completion of the merger and acquisition of $350 million The Oculina Bank, (Oculina) in Vero Beach, Florida. A subsequent conversion will be completed in the Fourth Quarter of 2019.
Oculina had eight banking offices along the Treasure Coast located from Stuart to Sebastian. They were founded in 2004 and was known as the “Friendly Bank” having built a rich history of providing lending and other real estate-related services to the Treasure Coast. IBMSECU is pleased to retain all of the existing Oculina branch locations and the same branch staff will continue to serve members.
IBMSECU is a member-owned financial institution that has provided financial services to families for 50 years, now with 27 branch locations in Florida and Georgia.
Michael Miller, President, and CEO at IBMSECU stated, “We are thrilled to complete the merger and acquisition of Oculina Bank. We are so excited about this new chapter and welcome Oculina employees and customers to our credit union family and can’t wait to combine our cultures of Service Excellence.”