United Fidelity Bank Purchases Bank of St. Croix
Evansville, IN (February 1, 2017) United Fidelity Bank, fsb, Evansville, IN (“United”) announced today that is has finalized the purchase of the Bank of St. Croix (“BSC”) and its two banking centers, located on the island of St. Croix in the US Virgin Islands (“USVI”). Terms of the purchase provide for United to acquire substantially all of the assets and certain deposits and other liabilities associated with the banking centers.
With respect to the transaction, Donald R. Neel, President and CEO of United said, “It has been our continued goal to move into markets with stable core deposit funding, and dynamic lending opportunities. As part of our opportunistic growth strategy, we also seek out prime locations and identify outstanding employees. Our partnership with the Bank of St. Croix meets all of these goals.”
Because of its name recognition on the islands, the operation in the USVI will be known as, “Bank of St. Croix, a division of United Fidelity Bank”. These locations will be full-service banking centers providing personal and business banking, and lending services. Neel added, “We are extremely pleased for the opportunity to provide personalized financial solutions to the residents and businesses in the US Virgin Islands, and firmly believe they will be well served by our new St. Croix associates.”
Upon completion of this transaction United now has 17 banking centers and approximately $560M in total assets. United serves the following Indiana cities: Evansville, Carmel, Newburgh, Ft. Branch and Mt. Vernon. In addition, United serves Cincinnati, Ohio, Chicago, Illinois, Denver, Colorado, and Ft. Myers, Florida.