Bank of the Southwest, a wholly-owned subsidiary of New Mexico National Financial Incorporated, and GECU completed a purchase and assumption transaction whereby GECU purchased substantially all of the assets and assumed substantially all of the liabilities of Bank of the Southwest.
Olsen Palmer LLC served as financial advisor to New Mexico National Financial Incorporated.
Following the completion of the acquisition, the new entity became a $4.9 billion assets institution serving more than 449,000 members nationwide and operating more than 30 branches across Texas and New Mexico. Bank of the Southwest will operate under the GECU name following completion of the systems integration.
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