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Alabama credit union to buy in-state bank

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Alabama credit union to buy in-state bank

The deal, for an undisclosed sum, would expand Montgomery-based MAX Credit Union’s services into the larger Birmingham metro area.

Montgomery, Alabama-based MAX Credit Union has agreed to acquire Birmingham-area First Financial Bank for an undisclosed cash sum, according to a release issued Tuesday.

The deal, set to close in 2027, would expand MAX’s mortgage, wealth management, insurance and business lending services into Alabama’s largest metro area.

The transaction would also bolster MAX’s stable of brick-and-mortar locations by 50%, adding eight branches to the credit union’s 16-site footprint.

“First Financial Bank has spent nearly 90 years earning the trust of the families and businesses in the markets it serves, and that’s exactly the kind of institution we wanted to partner with,” MAX CEO Martin Head said in the release, reported earlier by CUToday. “Our two organizations share a belief that a financial institution should be measured by how well it serves its neighbors, and we look forward to bringing everything MAX has to offer to these communities.”

MAX said it plans to keep all of Bessemer-based First Financial’s locations open “because the relationships those branches have built are what make this bank special.”

“MAX has built an impressive reputation for outstanding service, strong community relationships, and helping its members achieve their financial goals,” B. Kyle Goodwin IV, CEO of First Financial’s parent company, FirstFed Bancorp, said in Tuesday’s release.



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