Digital lender OakNorth to be parent of US bank CUB

Digital lender OakNorth to be parent of US bank CUB

The British commercial bank founded by Rishi Khosla will announce on Monday the all-share acquisition of Michigan-based Community Unity Bank, Sky News learns.

OakNorth deepens support for US lower mid-market businesses with acquisition of Michigan-based, Community Unity Bank - Innovate Finance – The Voice of Global FinTech

The post OakNorth deepens support for US lower mid-market businesses with acquisition of Michigan-based, Community Unity Bank appeared first on Innovate Finance – The Voice of Global FinTech.

British fintech unicorn OakNorth snaps up US community bank in overseas push

The firm has agreed on a stock-for-stock transaction for Michigan-based Community Unity Bank (CUB), subject to regulatory approval

OakNorth expands US presence with acquisition of Michigan’s CUB - Business Link Magazine

UK-based challenger bank OakNorth has acquired Michigan-based Community Unity Bank (CUB) in an all-share deal, marking its first US acquisition. CUB, an FDIC-insured bank founded three years ago, primarily serves retail and business customers in Southeast Michigan. OakNorth, backed by SoftBank, has been a key lender to UK businesses, including projects in Yorkshire. The bank […]

OakNorth Deepens Support For US Lower Mid-Market Businesses With Acquisition Of Michigan-Based Community Unity Bank

OakNorth, the leading commercial digital bank for entrepreneurs by entrepreneurs, today announces that it has agreed to purchase Community Unity Bank (CUB), the home-grown, FDIC-insured community bank based in Birmingham, Michigan, in a stock for stock transaction. The acquisition, which is subject to regulatory approval, follows authorization which OakNorth received in August 2024 from the Federal Reserve and the New York State Department of Fi…

UK's OakNorth to acquire Detroit-area community bank

London-based OakNorth has amassed a sizable U.S. loan portfolio and had been seeking a U.S. charter to simplify its business model.