FORT WAYNE, Ind. (WOWO): 3Rivers Federal Credit Union has bought a Richmond-based bank.
The Fort Wayne-based credit union will assume the assets and liabilities of West End Bank in an all-cash transaction, 3Rivers announced Thursday.
West End Bank will settle their remaining obligations and distribute remaining cash to stockholders, while the four West End branches in Richmond, Liberty, and Hagerstown will become 3Rivers branches, raising the credit union’s total number of branches to 20, and total assets to about $1.4-billion.
Employees and current customers of West End Bank will be “welcomed into the 3Rivers family,” says 3Rivers President and CEO Don Cates, when the deal is finalized in the first quarter of 2020.