DFCU Financial Announces Intent to Acquire Winter Park National Bank, Expanding Florida Footprint

Acquisition Announcement - DFCU Financial intends to acquire Winter Park National Bank, marking its third transaction in Florida, enhancing its commitment to comprehensive financial services in the region [1][2] - The acquisition will allow DFCU Financial to expand its offerings to a broader member base, leveraging WPNB's established reputation for customer service [2][4] Company Background - DFCU Financial, founded in 1950, has over 240,000 members and assets nearing $7 billion, with 28 branches in Michigan and several in Florida [6] - Winter Park National Bank, established in 2017, focuses on commercial banking and serves the Winter Park-Orlando-Kissimmee area with a strong emphasis on personalized banking solutions [7] Leadership and Integration - David Dotherow has been named Central Florida Area President and will retain leadership of the former WPNB operations, ensuring continuity in local leadership [4] - WPNB's branches will be rebranded under the DFCU Financial name, with plans for service integration in 2025 [4] Regulatory and Advisory Details - The acquisition is subject to regulatory approval, with both institutions collaborating to follow necessary processes [5] - DFCU Financial is advised by Donnelly Penman & Partners, Inc. and Honigman LLP, while WPNB is advised by Hovde Group, LLC and Smith Mackinnon, PA [5]