We’re growing again in
Southwest Florida! LMCU has signed an agreement to purchase Encore Bank of
Naples and expects finalization of regulatory requirements by early 2018. This
acquisition includes Encore Bank’s six branch locations in and around the
Naples area.
Speaking of the acquisition,
LMCU President and CEO, Sandra Jelinski said, “We are delighted that Encore
Bank has agreed to join with Lake Michigan Credit Union, to help strengthen and
expand our presence in the growing Southwest Florida region. We admire Encore’s
high-level of personalized service,
focus on improving our communities, and the commitment they have to always doing what’s best
for their customers...it’s the same model we live by every day. This is an exciting opportunity
for both organizations, our collective customers, and our dedicated teams of
bankers. Encore’s six branches are a perfect fit for our four Florida branch locations...there
is no overlap. Plus, Encore is a healthy, well-run bank with experienced staff
that when joined with our staff will immediately make the combined team a key
player in this market.”
Tom Ray, CEO of Encore Bank,
will stay on as regional president
of Lake Michigan Credit Union of
Florida after the acquisition is completed. “We are excited to join the
LMCU Team. We’re extremely proud of the relationships we have
built at Encore Bank and I am convinced this partnership will
significantly benefit our customers and the communities we serve.”
Exciting News! Look for new LMCU locations coming to these communities in October: Saginaw, White Lake and Florida Gulf Coast University in Fort Myers!
Onward!
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