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Fla. credit union acquires in-state bank

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Fla. credit union acquires in-state bank

In Florida, Delray Beach-based IBM Southeast Employees' Credit Union acquired Boynton Beach-based Mackinac Savings Bank FSB, according to a May 31 press release.

IBM Southeast Employees' CU has 16 branch locations in Florida and Georgia; Mackinac Savings Bank has three banking offices in Palm Beach County, Fla., and lending offices in Florida, Massachusetts and Michigan.

SNL data shows that as of March 31, IBM Southeast Employees' CU had assets of $979.3 million. Mackinac Savings Bank had $111.5 million in assets as of the same date.