Dort Financial CU / Flagler Bank
Subject to Regulatory Approval
GRAND BLANC, MI– On December 14, 2023, Dort Financial Credit Union completed its acquisition of Flagler Bank in West Palm Beach, Florida. The transaction grew Dort Financial Credit Union’s assets to over $2 billion with 15 locations in two states.
Statement from Dort Financial President & CEO:
Dort Financial will operate in Florida as “Flagler Credit Union, a Division of Dort Financial,” according to Dort’s President & CEO Brian Waldron. “We are excited to have completed this acquisition, and to welcome the employees in Florida to our team,” Waldron noted. “This is a big step in Dort Financial’s growth strategy, allowing us to better serve our members who spend winters in Florida. We look forward to providing our services to the new Flagler Credit Union members and to potential members in Palm Beach and surrounding counties.” Dort Financial Credit Union will continue to operate the four Flagler branches in Florida. “We will provide our full range of services to people in that region,” Waldron added. “The new Flagler Credit Union members will continue to receive services from the same friendly people that they were accustomed to seeing when they visit one of the former Flagler Bank branches.”
Statement from Flagler Bank President:
Former Flagler Bank President Ed Sterling, who is now Dort Financial’s Chief Operating Officer, expressed his excitement for the closing of the transaction and the merger of the two organizations. “This is a great opportunity to provide our existing customers with expanded services and our employees with even better benefits as members of the Dort team,” Sterling added. “We have been impressed with Dort Financial and are excited to be Flagler Credit Union, a division of Dort Financial. The credit union has a long history of supporting its members and the communities in which it serves. We will continue to do that here in Florida.”
About Dort Financial Credit Union
Founded in 1951, Dort Financial Credit Union serves more than 103,000 members, with assets over $2 billion and 11 locations. Membership is open to anyone who lives, works, attends school or worships in the state of Michigan or in Palm Beach, Martin, Hendry, and Broward counties in Florida. The credit union offers comprehensive financial services, including auto loans, mortgages, high interest checking accounts and much more. Learn more at dortonline.org or by calling 800-521-3796.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen has advised on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation
Andre Gard
Associate
Noah Erxleben
Analyst