Georgia's Oldest CU (Atlanta Postal Credit Union) to Purchase Affinity Bank

Executives with Atlanta Postal Credit Union (APCU) and its community-based subsidiary Center Parc Credit Union, have reached a purchase agreement with Affinity Bank to acquire the bank’s assets and liabilities in an all-cash deal which is expected to close sometime in the fourth quarter of 2024 or possibly early in 2025.

Atlanta Postal Credit Union and its subsidiary Center Parc Credit Union have agreed to buy Covington, Georgia-based Affinity Bank in an all-cash transaction, the companies announced Thursday.
The final purchase price was not disclosed. However, APCU said it would pay enough so that Affinity Bank can distribute $22.50 per share to its shareholders. The per-share payout amount is subject to potential increases based on the levels of tax payments involved in the transaction, the companies said.
The transaction is expected to close in the fourth quarter of this year or the first quarter of 2025.