Gesa Credit Union to acquire Security State Bank to expand service in the Pacific Northwest
May 23, 2024•over 1 year ago
Acquiring Company
Gesa Credit Union
Acquired Company
Security State Bank
Description
Gesa Credit Union, a community-focused credit union headquartered in Richland, Washington, has announced the agreement to acquire and assume substantially all of the assets and liabilities of Security State Bank. This acquisition will fuel Gesa's decision to expand its footprint and service in the Pacific Northwest, allowing for the empowerment of new communities and more extensive financial assistance.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed