Credit union buys bank
May 10, 2017
A local credit union recently purchased a Green River-based bank, resulting in a credit union with more than $218 million in assets.
Trona Valley Community Federal Credit Union purchased State Bank in a deal designed to bolster Trona Valley’s presence in Green River and Rock Springs.
The deal was announced through a media release from Trona Valley.
Despite purchasing a bank, Jeremy Gibson, the President and CEO of Trona Valley said it will remain a credit union.
Gibson said while deals where credit unions purchase banks are uncommon, the surviving entity in the transaction remains.