McQueen Financial Advisors Announces 15th Successful Transaction as an Adviser for Credit Unions Acquiring Banks
McQueen Financial's 15th deal closed with Ferndale, Michigan-based Credit Union One agreeing to buy Southfield, Michigan-based Hantz Bank.
CLAWSON, Mich., May 24, 2018 (Newswire.com) - McQueen Financial Advisors (“McQueen Financial”) is excited to announce its 15th successful transaction as an adviser to a credit union acquiring a bank or branch(es). Its most recent deal closed last week, with Ferndale, Michigan-based Credit Union One agreeing to buy Southfield, Michigan-based Hantz Bank. The acquisition is scheduled to close later this year.
Hantz Bank is approximately $228 million in total assets, similar to another of McQueen Financial’s recent deals wherein Grand Rapids, Michigan-based Lake Michigan Credit Union is acquiring $385 million Naples, Florida-based Ovation Bancorp and its subsidiary Encore Bank, the firm’s largest deal to date.
McQueen Financial Advisors pioneered the “credit union buying bank” phenomenon in 2012, advising United Federal Credit Union in its acquisition of Griffith Savings Bank. Since then the firm has worked on over 25 transactions, with 10 that have closed or are pending.
McQueen Financial is the nationwide leading financial adviser on credit union-bank deals. Its practice started by developing the acquisition structure and assisting regulatory agencies in making necessary changes to allow for the expansion of the process. McQueen Financial was an integral partner in creating the roadmap whereby a credit union acquires a bank’s stock, eliminating the double taxation issue that would otherwise be created in a purchase and assumption deal.
McQueen Financial began facilitating mergers in 2009 with the advent of purchase accounting requirements for credit unions. The firm traveled the country educating regulators, trade groups, accountants and credit unions on the purchase accounting regulation. Since then they have worked with hundreds of credit unions to properly analyze, value and document credit union mergers.
“Looking ahead to the remainder of 2018 and into next year, I expect the current trend of credit union-bank deals to continue and McQueen Financial is excited about the many deals we have in process,” stated Charley McQueen, president of McQueen Financial.
About McQueen Financial Advisors:
McQueen Financial Advisors is an SEC-registered, fee-based, investment advisory firm that has been serving financial institutions since 1999. McQueen provides financial institutions with investment portfolio management services, ALM services, mortgage servicing rights valuations and strategic consulting. The firm’s headquarters are in Clawson, Michigan. For information, call Charles McQueen at 248.548.8400 or visit us at www.m-f-a.com.
For more information about McQueen Financial Advisors announces its 15th Successful Transaction as an Advisor for Credit Unions Acquiring Banks, please contact Charley McQueen at 248.548.8400 or Charley@m-f-a.com
Charles McQueen, McQueen Financial Advisors
Source: McQueen Financial Advisors