On May 26, 2025, it was announced that Community Bancshares, Inc., the bank holding company for Mission Bank, Kingman, Arizona, had entered into a definitive agreement with Avenir Financial Federal Credit Union (“Avenir”), Yuma, Arizona, pursuant to which Avenir will acquire substantially all the assets and assume substantially all the liabilities of Mission Bank.

Following the completion of the transaction, Avenir will have approximately $549 million in assets and seven branches throughout the Arizona counties of Yuma and Mohave.

Luse Gorman is serving as legal counsel to Avenir in the transaction. The Luse Gorman team consists of Jeff Cardone, Michael Brown, and Babette Schwartz.

Luse Gorman has acted as counsel on more than 150 bank and credit union merger transactions during the past ten years and more bank and credit union merger transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.