GreenState CU walks away from planned bank purchase

Another credit union has called off a proposed bank acquisition after hitting a roadblock. 

The board of the $10.6 billion-asset GreenState Credit Union in North Liberty, Iowa, has decided to give up on trying to buy the $369 million-asset Premier Bank, according to the Credit Union Times. 

A judge decided earlier this month that the Nebraska Department of Banking and Finance could deny GreenState’s application to buy the Omaha, Neb., bank. 

VyStar Credit Union in Jacksonville, Fla., and Heritage Southeast Bank in Jonesboro, Ga., called off their proposed merger in June after failing to secure regulatory approval. Heritage later agreed to be sold to First Bancshares in Hattiesburg, Miss.