On October 3, 2024, OneAZ Credit Union (“OneAZ”), Phoenix, Arizona, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of 1st Bank Yuma, Yuma, Arizona, the wholly-owned subsidiary of Western Arizona Bancorp, Inc.
OneAZ has approximately $3.3 billion in assets and 195,000 members, and operates 20 branches in Arizona, primarily in the Phoenix and Tucson metro areas.
1st Bank Yuma has approximately $624 million in assets and operates five branches in Yuma, Nogales, and San Luis, New Mexico.
Luse Gorman is serving as legal counsel to OneAZ in the transaction. The Luse Gorman team consists of Jeff Cardone, Mike Brown, Zac Davis, Brendan Clegg, and Keeler Fina.
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.