Tampa’s First Citrus Bank Merging with Michigan Credit Union DFCU Financial in $100M Deal

First Citrus Bank President and CEO Jack Barrett states, “This merger is not only a win for our shareholders, it’s a win for our associates, clients, Tampa Bay and frankly the state of Florida.”

Within the Tampa Bay Times article, staff writer Jay Cridlin reports on the details of the merger, including:

  • the all-cash deal is worth over $100 million
  • DFCU will pay First Citrus shareholders $47.75 per share and cash out outstanding stock options
  • the deal, if approved by shareholders and regulators, is expected to close by the end of 2022
  • DFCU has assets of $6.4 billion; this deal will push that to $7.1 billion
  • all six First Citrus Bank branches will stay open following the merger

To read the complete article, click: Tampa’s First Citrus Bank merging with Michigan credit union in $100M deal

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