Thursday, March 10, 2022

VyStar-Heritage Southeast deadline extended again

VyStar Credit Union in Jacksonville, Fla., and Heritage Southeast Bank in Jonesboro, Ga., have agreed to extend the deadline for their merger for a second time. 

The $11 billion-asset VyStar and the $1.6 billion-asset Heritage Southeast have pushed the deadline for their deal to March 31. 

The financial institutions announced in October that the deadline had moved from Dec. 31 to Feb. 28. 

The deal was announced in March 2021. If completed, it would be the biggest credit union purchase of a bank. 

The acquisition still requires approval from the National Credit Union Administration, the Federal Deposit Insurance Corp. and state regulators in Georgia and Florida.

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