Alabama credit union to buy bank in 6th such deal of 2020

Banking Dive
Friday, September 4, 2020

Alabama One Credit Union in Tuscaloosa announced Thursday it has agreed to buy First Bank of Linden, an $82 million-asset, single-branch institution roughly 100 miles west of the state capital, Montgomery. The deal represents the credit union's second takeover of 2020, following a July merger that brought Alabama Rural Electric Credit Union under the Alabama One umbrella. Alabama One CEO Bill Wells said the motivation for the deal was geographical, as it would expand the credit union's footprint in western Alabama, which the executive sees as strategically important.