$9.5B Lakeland credit union to acquire Tallahassee bank

MidFlorida Credit Union, a longtime Polk County institution, is acquiring a Tallahassee-based bank. 

Prime Meridian Holding Co. and its subsidiary, Prime Meridian Bank, will be integrated into the MidFlorida brand upon completion of the acquisition. A statement from MidFlorida on Tuesday notes the combined entity will boast $9.5 billion in assets, $7.2 billion in loans, 1,578 employees and 66 branches once merged.

The board of directors of each bank has approved the sale which is expected to close next year.