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FAIRWINDS CU acquires Friends Bank

Orlando, Fla.-based FAIRWINDS CU completed its acquisition of New Smyrna Beach, Fla.-based Friends Bank.

In addition to retaining current Friends Bank employees, the credit union will maintain all three of the bank's branches, according to a news release. All Friends Bank accounts are expected to be transitioned to FAIRWINDS CU's data processing systems in January 2020.

FAIRWINDS CU was represented in the deal by Shutts & Bowen LLP as legal counsel and Skyway Capital Markets as financial adviser. Smith Mackinnon PA was legal counsel and Hovde Group LLC was financial adviser to Friends Bank.