ST. JOSEPH – The advised purchase of Edgewater Bancorp Inc. will give United Federal Borrowing Commitment better possibilities to help expand develop commercial lending.

42 million loan portfolio, or maybe more than $291.cuatro billion. Incorporating Edgewater Bank’s industrial financial procedures often permit the credit partnership so you’re able to dive also deeper with the commercial financing.

We see it a strong part of gains for all of us down the road, told you Joined Federal Chairman and Chief executive officer Terry O’Rourke.

What they render is options, ages of experience, education, dating and you will reputation to help you advance our very own industrial financing urban area, O’Rourke said. So it commitment can assist you take it one stage further.

Under the offer, United Government perform acquire the property and you may liabilities regarding Edgewater Financial. The acquisition do enhance United Federal’s branch network within the Berrien County, together with loan offices into the Greenville and you can Fremont.

The deal carry out bolster Joined Federal’s business status within its house yard. Both United Federal and you can Edgewater is actually situated in St. Joseph.

Edgewater Bancorp investors carry out receive $ to help you $ within the dollars thought for each and every share from popular inventory, equating in order to an exchange property value $twenty-eight.nine mil so you can $29.six mil. Continue reading →