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United Fidelity Bank completes Bank of St. Croix acquisition

Evansville, Ind.-based United Fidelity Bank FSB on Feb. 1 completed its acquisition of Christiansted, Virgin Islands-based Bank of St. Croix.

As a result, United Fidelity now has 17 banking locations and around $560 million in assets, according to a same-day news release.

Under the deal terms, the acquired bank will operate under the name Bank of St. Croix, a division of United Fidelity Bank. The OCC approved the merger Dec. 12, 2016.

United Fidelity is a unit of Fidelity Federal Bancorp, which is majority-owned by Pedcor Financial Bancorp. Pedcor Financial LLC is the parent of Pedcor Financial Bancorp.