Orlando’s Fairwinds Credit Union plans to double the number of branches it has in Volusia County by acquiring New Smyrna Beach-based Friends Bank.
The 19-year-old bank has locations in Ormond Beach and Edgewater, along with its New Smyrna Beach headquarters. Terms of the deal were not disclosed.
Fairwinds holds assets valued at $2.3 billion and has more than 190,000 members and 500 employees.
Friends Bank, meanwhile, has more than 3,500 customers and assets of $95 million. Those customers were to become Fairwinds members upon completion of the deal.