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2 North Dakota CUs merge

In North Dakota, Jamestown-based First Community CU and Devils Lake-based Citizens Community CU agreed to merge.

The transaction is expected to close Jan. 1, 2018, with an operational merger to follow later in the year, according to a news release recently obtained by S&P Global Market Intelligence. The combined entity, which will operate under the First Community name, will have approximately $800 million in assets.

In June, Citizens Community was placed into conservatorship due to unsafe and unsound practices.

As of Sept. 30, First Community had assets of $611.1 million, while Citizens Community had $185.7 million, according to SNL Financial data.

SNL Financial and S&P Global Market Intelligence are owned by S&P Global Inc.