ATLANTA—The $2.5-billion Atlanta Postal Credit Union, along with its community-based subsidiary, Center Parc Credit Union, and $870-million Affinity Bancshares, have mutually agreed to terminate their purchase agreement.
As CUToday.info reported, in May of this year Atlanta Postal here agreed to buy the Covington, Ga.-based bank in an all-cash transaction.
“The boards of directors of each of the parties agreed to the termination following discussions APCU had with the applicable regulatory agencies. Following these discussions, APCU informed Affinity and Affinity Bank that APCU would withdraw its application with the Georgia Department of Banking and Finance with respect to the transactions contemplated by the purchase agreement,” the organizations said in a joint statement.
The news arrives on the same day Zeal CU announced a deal to buy Gogebic Range Bank that moved the CU/Bank buy count this year to 22.