DFCU Financial Has Agreed to Acquire Winter Park National Bank
THE TRANSACTION
On November 8, 2024, DFCU Financial, one of Michigan's largest and most trusted credit unions, announced its intent to acquire Winter Park National Bank (“WPNB”), a well-established financial institution based in Winter Park, FL.
This acquisition marks DFCU Financial’s third transaction within the state of Florida, furthering its commitment to providing comprehensive financial services and superior member experiences across the region. The acquisition of WPNB, which currently serves the Winter Park-Orlando-Kissimmee area, will complement DFCU Financial’s existing presence in Florida, which includes branches in Tampa, St. Petersburg, Naples, and Ft. Myers.
The purchase and assumption agreement has been unanimously approved by the Boards of Directors of both organizations. The combination is subject to approval by WPNB’s shareholders, applicable regulators, and other customary closing conditions. The transaction is expected to be completed in 2025. As part of the acquisition, DFCU Financial has named WPNB CEO David Dotherow Central Florida Area President, and he will retain leadership responsibilities for the former WPNB operations.
Our Client
DFCU FINANCIAL
DFCU Financial is a leading Michigan-based credit union founded in 1950. With more than 240,000 members and assets nearing $7 billion, DFCU has 28 full-service branches in metro Detroit, Ann Arbor, Grand Rapids and Lansing, MI, as well as six in the Tampa Bay area, one in Naples, FL and one in Ft. Myers, FL, which are staffed by local financial specialists uniquely qualified to help members and businesses achieve important financial milestones. DFCU offers a wide range of financial products and services, and is dedicated to providing value through competitive rates, excellent member service, and unique member benefits like its industry-leading Cash Back program.
Transaction Partner
WINTER PARK NATIONAL BANK
Winter Park National Bank, headquartered in Winter Park, Florida, is a commercial bank founded in 2017. They provide financial products and services to small and medium-sized businesses, their owners, and employees. The bank serves their clients out of two branches in Winter Park and Longwood, with 32 employees and a focus on commercial banking. WNPB’s approach is to consistently deliver exceptional customer service and personalized relationship banking, and they are committed to creating a true community banking environment within Central Florida.
CONTACT
Financial Institutions
Financial Institutions
RECENT DPP TRANSACTIONS
