It was recently made official that United Fidelity Bank, based in Evansville, Indiana, will buy Bank of St. Croix. The two Banks first announced the purchase in mid-2016, but still needed to get final regulatory approval. According to the media, “The deal should close by the end of the month. Full integration between United Fidelity and The Bank of Saint Croix will happen within a few months.”
Bank officials say that with the acquisition we can expect to see expansions in the services offered by Bank of St. Croix, including mobile banking and enhanced lending opportunities. A news story in June of 2016 said that United Fidelity Bank will enable Bank of St. Croix to offer 30-year fixed rate mortgages, increasing its lending limits. We will certainly be keeping tabs on United Fidelity to bring you any news about mortgage opportunities.
That news story also stated that the bank will continue to use the name Bank of St. Croix and the two branches, Gallow’s Bay and Peter’s Rest, will continue to operate. The Bank’s management team and employees will retain their jobs. The acquisition will also allow Bank of St. Croix to offer increased support services in a more cost-effective way.
We’re encouraged by this transaction and eager to continue partnering with Bank of St. Croix to help our clients buy their dream homes!
Twice voted Best Real Estate Broker on St. Croix. Coldwell Banker President's Circle three years in a row. 