FIG Partners Advised Citizens Community Bancorp, Inc. In Branch Sale To Lake Michigan Credit Union

ATLANTA, December 3, 2018 — CCF Bank, a subsidiary of Citizens Community Bancorp, Inc. (NASDAQ:CZWI), has announced a purchase and assumption agreement to sell its Rochester Hills, Michigan branch and related liabilities to Lake Michigan Credit Union (LMCU).

FIG Advised Citizens Community Bancorp, Inc. In Branch SaleThe agreement includes approximately $35 million in deposits and approximately $300,000 in fixed assets. LMCU has agreed to pay a 7% deposit premium, or approximately $2.45 million.

Steve Bianchi, President of CCF Bank and Citizens Community Bancorp, Inc. said, “The sale of our Michigan location will realign our branch network to northwest Wisconsin and southern Minnesota and reflects a good value to shareholders from the branch sale. Our employees and customers will benefit from LMCU’s strong reputation as an outstanding place to work and bank. We are pleased with the outcome for all of our constituencies.”

The FIG team included Bob Kotecki, Principal, and Brian Flaherty, Associate.

More information is available here.

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