ORANGE CITY, Fla. (12/31/13)--Central Florida Educators FCU has purchased a facility formerly owned by Hancock Bank in Orange City, Fla.
The Lake Mary, Fla.-based credit union paid $1.2 million for the one-acre lot and 4,081-square-foot bank building, which was built in 2002 (The Daytona Beach News-Journal Dec. 30).
Hancock Holding Co., based in Gulfport, Miss., announced it was closing 40 to 45 branches by the end of the year in the five gulf states where it operates Hancock Bank and Whitney Bank branches.
CFE FCU, with $1.4 billion in assets, was founded in 1937 and has 19 branches. The Orange City branch will be the credit union's first in the Volusia-Flagler county area.
The branch is scheduled in the first quarter of 2014 and will have about eight employees, the credit union said.