AOD Federal Credit Union has announced its acquisition of the Prattville branch of Merchants & Farmers Bank, enhancing its presence in Alabama's banking sector with approximately $15 million in deposits and $10 million in loans.

Target Information

Merchants & Farmers Bank of Greene County, based in Alabama, is a regional banking institution serving the communities of west Alabama. The bank offers a variety of financial services to both individual and business clients, including deposit accounts, loans, and financial advisory services.

AOD Federal Credit Union, also located in Prattville, AL, provides a range of banking products primarily for its members. The acquisition of the Prattville branch from Merchants & Farmers represents a strategic expansion for AOD, allowing it to enhance its service offerings and customer base in the region.

Industry Overview in Alabama

The banking industry in Alabama has shown resilience and growth, particularly in recent years, embodying a mix of traditional banking and credit union se