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OneAZ completes acquisition of 1st Bank Yuma to expand footprint in Southern Arizona

Oct 03, 2024•about 1 year ago

Acquiring Company

OneAZ Credit Union

Acquired Company

1st Bank Yuma

PhoenixYumaBankingLendingFinanceFinancial ServicesNon ProfitEducation

Description

OneAZ Credit Union has announced the acquisition of 1st Bank Yuma, with assets of $600 million. This strategic acquisition substantially expands OneAZ’s footprint to Yuma and Santa Cruz Counties, adding 5 branches to its network of 20 branches in Southern Arizona. The transaction, expected to be fully integrated by 2026, aims to drive economic growth, prosperity, and positive change across Arizona.

Company Information

Company

OneAZ Credit Union

Location

Phoenix, Arizona, United States

About

Serving Arizona since 1951, OneAZ Credit Union is a financial powerhouse managing over $3.4 billion in assets and serving over 200,000 member-owners and 12,000 business owners across 20 branches statewide. We are committed to inspiring dreams and driving prosperity and community growth through innovative and high-quality personal and business banking solutions. At OneAZ, it’s all about banking for the people, not for profit. Discover more at OneAZcu.com. Insured by NCUA. Join us in driving prosperity and building a brighter tomorrow for Arizona.

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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