DFCU Financial to Acquire MidWestOne Bank s Florida Operations in Naples and Fort Myers streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
The Iowa-based bank says its two branches in Naples and Fort Myers were too small a presence to be competitive, so it decided to sell them to DFCU Financial.
MidWestOne to exit Florida by selling branches to credit union americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
The volume of bank acquisitions either by credit unions or community banks has dropped considerably so far in 2023. Experts, including prospective buyers, cite a combination of ongoing regulatory and economic pressures.
Since 2011, and in ever-growing volume, credit unions have been buying community banks. Some see it as the free market at work while bankers say this is another example of credit unions' unfair advantage.