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Gesa Credit Union to acquire Security State Bank to expand service in the Pacific Northwest

May 23, 2024over 1 year ago

Acquiring Company

Gesa Credit Union

Acquired Company

Security State Bank

RichlandCentraliaLendingNon ProfitFinancial ServicesBankingLendingFinanceFinancial Services

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.

Company Information

Company

Gesa Credit Union

Location

Richland, Washington, United States

About

Gesa Credit Union is a community-focused credit union headquartered in Richland, Washington. It is one of Washington's largest credit unions, with over $5.5 billion in assets. The credit union is dedicated to serving the communities it operates in and providing extensive member and branch service systems.

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M&A Insights

Based on deal data
Integration 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