BOAZ– Alabama ONE Credit Union has completed its acquisition of Peoples Independent Bank, expanding its Northeast Alabama presence.
The transaction closed Friday, Oct. 30, after receiving all required regulatory approvals, Alabama ONE announced Monday, Nov. 2. The purchase, first announced Feb. 18, brings the combined organization’s assets to approximately $1.9 billion.
For customers, the next steps involve account transitions, digital banking access, and information about Alabama ONE’s products and services. However, Alabama ONE says customers will retain uninterrupted account access and banking services throughout the conversion.
Alabama ONE plans to send additional information in the coming weeks and months. Its online transition page also asks customers to confirm their contact information with their local branch.
Whitney Oswalt, Alabama ONE’s chief executive officer, welcomed Peoples Independent Bank’s customers, employees, and communities into the credit union. He also said the acquisition would expand services while building on the bank’s local relationships.
“This partnership brings together two organizations that share a deep commitment to community, personal service, and helping people achieve financial success,” Oswalt said.
Royce Ogle, the bank’s former president and CEO, also described a new chapter for customers and employees. He said Alabama ONE’s community banking approach and expanded capabilities would create opportunities for the communities the bank serves.
Peoples Independent Bank was a wholly owned subsidiary of Peoples Independent Bancshares Inc. Meanwhile, Alabama ONE is headquartered in Tuscaloosa and has served members since its charter in 1951.
The credit union already operates a Centre branch at 500 Cedar Bluff Road. Its history also lists grand openings in Centre in January 2022 and Southside in June 2026.
For transition updates, customers can visit Alabama ONE’s information page or contact their local branch.
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