{"id":55282,"date":"2025-11-18T23:15:20","date_gmt":"2025-11-18T23:15:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-tx\/55282\/"},"modified":"2025-11-18T23:15:20","modified_gmt":"2025-11-18T23:15:20","slug":"el-paso-credit-union-to-buy-11-branch-bank","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-tx\/55282\/","title":{"rendered":"El Paso credit union to buy 11-branch bank"},"content":{"rendered":"\n

This story was originally published on Banking Dive<\/a>. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter<\/a>. <\/p>\n

El Paso, Texas-based credit union GECU will acquire Roswell, New Mexico-based Bank of the Southwest, the credit union announced Monday.<\/p>\n

GECU said the deal, creating a $4.7 billion-asset financial institution with more than 30 branches and 440,000 customers, will enhance its range of financial products and \u201cstrengthen the impact of our people helping people philosophy.\u201d<\/p>\n

Financial details and timelines were not disclosed.<\/p>\n

Acquiring Bank of the Southwest deepens GECU\u2019s presence in New Mexico, which it entered with a single branch opening in Las Cruces last year. Bank of the Southwest has 11 branches in New Mexico, including one in Las Cruces, the state\u2019s second-largest city.<\/p>\n

The proposed acquisition has the support of GECU\u2019s and Bank of the Southwest\u2019s boards of directors and leadership teams, but remains subject to approval by the National Credit Union Administration, the New Mexico Financial Institutions Division, and the Federal Deposit Insurance Corporation, and other closing conditions.<\/p>\n

GECU President and CEO Crystal Long will remain at the head of the new institution, according to a letter to members published online<\/a>.<\/p>\n

\u201cI am excited for this new chapter and the opportunities that lie ahead,\u201d she said.<\/p>\n

Bank of the Southwest CEO K. Andrew Hogan said in a prepared statement<\/a> that \u201c[t]ogether we look forward to enhancing our ability to expand commercial lending and our offerings to more communities in New Mexico with GECU\u2019s robust products and services and advanced technology solutions.\u201d<\/p>\n

Credit union-bank deals have been popular in recent years, hitting a record 22<\/a>\u00a0last year.\u00a0<\/p>\n

Michael Bell, a partner at the law firm Honigman who often architects such deals, told CUToday<\/a> that \u201c[t]here is still a decent amount of activity in the pipeline\u201d for 2025.<\/p>\n

\u201cWe\u2019ll likely finish this year somewhere in the twenties in total deals, which keeps us close to record pace,\u201d he said. This year has been affected by political turbulence, NCUA staff reductions and perceptions of regulatory delay, he told CUToday.<\/p>\n

Recommended Reading <\/p>\n","protected":false},"excerpt":{"rendered":"This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free…\n","protected":false},"author":2,"featured_media":55283,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[30304,138,140,139,30302,7739,30306,3227,30303,2383,30305],"class_list":["post-55282","post","type-post","status-publish","format-standard","has-post-thumbnail","category-el-paso","tag-bank-of-the-southwest","tag-el-paso","tag-el-paso-headlines","tag-el-paso-news","tag-federal-deposit-insurance-corporation","tag-financial-institution","tag-financial-products","tag-gecu","tag-national-credit-union-administration","tag-new-mexico","tag-new-mexico-financial-institutions-division"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/55282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=55282"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/55282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/55283"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=55282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=55282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=55282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}