Luse Gorman is Legal Counsel to Pima Federal Credit Union in its Proposed Acquisition of Republic Bank of Arizona

May 17, 2024

On May 16, 2024, Pima Federal Credit Union, Tucson, Arizona, entered into a definitive agreement to acquire substantially all of the assets and assume substantially all of the liabilities of Republic Bank of Arizona, Phoenix, Arizona, the wholly owned subsidiary of RBAZ Bancorp, Inc. Under the agreement, RBAZ Bancorp, Inc. shareholders will receive approximately $22.00 per share of fully diluted common stock held, representing aggregate consideration of $43.7 million.