America First Credit Union has entered into an agreement to purchase substantially all assets of Meadows Bank and assume most of its liabilities, the financial institutions announced this morning in a joint news release.
The transaction is subject to regulatory approval and Meadows Bank shareholder consent, officials said in the statement. Once completed, Meadows Bank will be rebranded as “Meadows Financial: a division of America First.”
The acquisition would expand America First’s presence in Nevada and Arizona, where Meadows operates six full-service community banking locations.
Founded in 2008, Meadows Bank focuses on relationship-based banking with local decision-making and serves as a National SBA Preferred Lender, offering comprehensive lending and deposit services.
America First, established in 1939, ranks as the sixth-largest credit union nationally with $22 billion in assets and 113 locations spanning Arizona, Idaho, Nevada, New Mexico and Utah. The member-owned, not-for-profit cooperative serves approximately 1.5 million members.
The deal would combine Meadows’ commercial banking expertise with America First’s consumer financial services, potentially offering expanded product suites to customers of both institutions. No financial terms of the transaction were disclosed.