APCU/Center Parc Credit Union and Affinity Bancshares, Inc. Announce Mutual Termination of Purchase Agreement
30 Dezember 2024 - 10:30PM
Business Wire
Atlanta Postal Credit Union (“APCU”), along with its
community-based subsidiary, Center Parc Credit Union, and Affinity
Bancshares, Inc (“Affinity”) (NASDAQ: AFBI), the holding company
for Affinity Bank, National Association (“Affinity Bank”), jointly
announced today that they have agreed to terminate the purchase
agreement pursuant to which the credit union would acquire Affinity
Bank, effective immediately.
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.
About APCU/Center Parc
At APCU/Center Parc, providing our members first-class service
has always been our priority. We're a member-owned, not-for-profit
financial cooperative committed to helping hardworking people save
money and prosper. For almost 100 years, we've stayed true to these
beliefs. As Georgia's oldest credit union, we're proud of our
tradition of service. Over the years, APCU/ Center Parc assets have
grown from an initial investment of $2,505 to nearly $2.5 billion.
Today, we're one of the largest credit unions in the country. We're
proud to serve more than 105,000 members nationwide with a full
complement of financial products and services designed to save them
money. For more information, visit www.apcu.com.
About Affinity Bank
Affinity Bancshares, Inc. is a Maryland corporation, based in
Covington, Georgia, with approximately $870 million in assets. Its
bank subsidiary, Affinity Bank, was founded in 1928 and is a leader
in the business community specializing in developing industry
specific solutions to support niche / select businesses, such as:
commercial real estate, construction, dental and medical practices,
and indirect auto lending. Affinity Bank serves its customers with
three branches – two in the city of Covington and one located on
Galleria Parkway in Atlanta. Additionally, it operates a loan
production office in Alpharetta. For more information, please visit
www.myaffinitybank.com and www.newtonfederal.com.
Forward-Looking Statements
This press release contains statements that may be considered
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933. These forward-looking statements are
intended to be covered by the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, and this statement is
included for purposes of complying with these safe harbor
provisions. Readers should not place undue reliance on such
forward-looking statements, which speak only as of the date made.
These forward-looking statements are based on current plans and
expectations, which are subject to a number of risk factors and
uncertainties that could cause future results to differ materially
from historical performance or future expectations.
APCU, Center Parc and Affinity undertake no obligation to
subsequently revise any forward-looking statements to reflect
events or circumstances after the date of such statements, or to
reflect the occurrence of anticipated or unanticipated events or
circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20241230374950/en/
APCU/Center Parc Merideth Miller M2 The Agency (281) 882-3045
pr@m2theagency.com
Affinity Bancshares and Affinity Bank Edward J. Cooney Chief
Executive Officer (678) 742-9990
Affinity Bancshares (NASDAQ:AFBI)
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