Shareholders OK Michigan credit union’s acquisition of Tampa bank

First Citrus Bank will be part of DFCU Financial, a credit union founded in 1950 by Ford Motor Co. employees.

By Business Observer Staff
| 12:00 p.m. August 8, 2022
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First Citrus Bank President and CEO Jack Barrett. (File photo)

Tampa Bay-Lakeland

Shareholders of First Citrus Bancorporation Inc., the parent holding company of First Citrus Bank, have approved a deal that will see the Tampa-based community bank acquired by DFCU Financial, a credit union headquartered in Dearborn, Michigan, a suburb of Detroit.

According to a news release, FCB shareholders will receive $47.75 in cash for each share owned.