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DFCU Financial Announces Intent to Acquire Winter Park National Bank, Expanding Florida Footprint

Written by Customer Service on . Posted in Mergers And Acquisitions.

DEARBORN, Mich. and WINTER PARK, Fla., Nov. 08, 2024 (GLOBE NEWSWIRE) — DFCU Financial, one of Michigan’s largest and most trusted credit unions, is pleased to announce its intent to acquire Winter Park National Bank (WPNB), a well-established financial institution based in Winter Park, FL. This acquisition marks DFCU Financial’s third transaction within the state of Florida, furthering its commitment to providing comprehensive financial services and superior member experiences across the region.

Winter Park National Bank, founded in 2017, serves the Winter Park-Orlando-Kissimmee area with a strong reputation for customer service and personalized banking solutions. The acquisition of WPNB will complement DFCU Financial’s existing presence in Florida, which already includes branches in Tampa, St. Petersburg, Naples, and Ft. Myers. The combined entity will allow DFCU Financial to expand its offerings to a broader base of members, delivering the same market-leading products, services, and benefits that have made it a trusted name in Michigan and beyond.

DFCU Financial, established in 1950, has consistently grown its membership and financial service offerings over the years. With a commitment to innovation and member satisfaction, DFCU provides an array of services including business and personal banking, loan products, and wealth management solutions. The credit union is particularly known for its member-driven values and competitive advantages such as its Cash Back program, favorable loan rates, and transparent banking.

“We are thrilled to announce this acquisition and deepen our commitment to serving the communities in Florida,” said Ryan Goldberg, President and CEO of DFCU Financial. “Winter Park has been a cornerstone of the Central Florida financial community, and we look forward to building on their legacy by offering our comprehensive, member-centric approach to banking.”

David Dotherow, CEO of Winter Park, commented, “We’re excited to join the DFCU Financial family as they expand into Central Florida. DFCU’s commitment to clients, employees, and communities aligns perfectly with our values at Winter Park National Bank. With DFCU’s robust offerings and our white glove customer service, together we look forward to strengthening relationships with our clients and reaching new customers across the region. DFCU’s support in maintaining our local leadership and team ensures we’ll continue to grow and serve Central Florida with excellence.”

As part of the acquisition, DFCU Financial has named David Dotherow Central Florida Area President, and he will retain leadership responsibilities for the former WPNB operations. DFCU will also retain WPNB’s branch locations while enhancing their infrastructure, ensuring a seamless transition for all customers. Winter Park’s Orlando branches will be rebranded under the DFCU Financial name, with plans to integrate services in 2025.

The acquisition is subject to regulatory approval, and both institutions are working closely to ensure the necessary processes are followed.

DFCU Financial is being advised by the investment banking firm Donnelly Penman & Partners, Inc., and the law firm Honigman LLP. WPNB is being advised by the investment banking firm Hovde Group, LLC, and the law firm Smith Mackinnon, PA.

About DFCU Financial

DFCU Financial is a leading Michigan-based credit union founded in 1950. With more than 240,000 members and assets nearing $7 billion, DFCU has 28 full-service branches in metro Detroit, Ann Arbor, Grand Rapids and Lansing, MI, as well as six in the Tampa Bay area, one in Naples, FL and one in Ft. Myers, FL, which are staffed by local financial specialists uniquely qualified to help members and businesses achieve important financial milestones. DFCU offers a wide range of financial products and services, and is dedicated to providing value through competitive rates, excellent member service, and unique member benefits like its industry-leading Cash Back program.

About Winter Park National Bank

Winter Park National Bank, headquartered in Winter Park, Florida, is a commercial bank founded in 2017. They provide financial products and services to small and medium-sized businesses, their owners, and employees. The bank serves their clients out of two branches in Winter Park and Longwood, with 32 employees and a focus on commercial banking. WNPB’s approach is to consistently deliver exceptional customer service and personalized relationship banking, and they are committed to creating a true community banking environment within Central Florida.

CONTACT: Media Contact:

Sarah Perez
SVP, Director of Communications
DFCU Financial
813.925.5864
sarah.perez@dfcufinancial.com

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