West Virginia bank sells to South Carolina credit union
REV Federal Credit Union in Summerville, South Carolina, will enter ‘almost heaven’ with the acquisition of First Neighborhood Bank in Spencer.
For the first time ever, a West Virginia-based community bank plans to sell itself to a credit union.
REV Federal Credit Union in Summerville, South Carolina, said it agreed to acquire the $149 million-asset First Neighborhood Bank in Spencer, West Virginia.
Financial terms of the deal were not disclosed, nor was the expected timing on the closing.
This is the first bank acquisition for the $1.1 billion-asset REV FCU.
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