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New Deal


Announced

LMCU to acquire Pilot Bank.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Pending

Acquisition

Friendly

Private

Single Bidder

Banks

Domestic

Majority

commercial banking

Synopsis

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Lake Michigan Credit Union, a financial cooperative, agreed to acquire Pilot Bank, a Tamba-based provider of banking services. Financial terms were not disclosed. "This is another step in our plan to enhance our member value and experience for our many wonderful members that live in or vacation in Florida, including those in this new thriving market, as well as future new members," Sandy Jelinksi, Lake Michigan Credit Union President & CEO.

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