Stinson Represents Trona Valley Community Federal Credit Union in Acquisition of State Bank of Wyoming
Stinson Leonard Street represented Trona Valley Community Federal Credit Union, Green River, Wyoming, in its acquisition of State Bank, Green River, Wyoming. The deal, which announced May 4, 2017, will result in a credit union with more than $218 million in total assets serving individuals and businesses.
Trona Valley 's assets totaled approximately $181 million as of Dec. 31, 2016, with offices in Green River, Rock Springs, Evanston and Mountain View, Wyoming. State Bank, a state of Wyoming chartered commercial bank, had around $37 million in assets as of Dec. 31, 2016, with one branch in Rock Springs.
The board of directors of both institutions approved the transaction, which is subject to customary conditions, including the approvals of the NCUA, bank regulatory agencies and the shareholders of State Bank.
“We are excited about combining these two financial institutions covering the Southwest Wyoming Area,” said Jeremy Gibson, President and CEO of Trona Valley Community Federal Credit Union announcing the deal. “Both entities have developed strong relationships with their member-customers. Both entities have built robust platforms and production capabilities, and established low cost deposit bases with significant focus on member service.”
Stinson Leonard Street partners Ernie Panasci and Adam Maier advised Trona on the deal. FIG Partners acted as financial advisor to Trona Valley Community Federal Credit Union. Moss Adams served as special accounting advisor to Trona Valley Community Federal Credit Union.