OAKLAND, Calif.--(BUSINESS WIRE)--First ULB Corp., the parent of United Labor Bank, F.S.B. announced today that it has entered into a definitive agreement to acquire Union Financial Corporation ("Union Financial"), Albuquerque, New Mexico and its wholly-owned subsidiary, Union Savings Bank (collectively "Union"). According to the terms of the agreement, First ULB Corp. will pay approximately $5.862 million in newly issued First ULB Corp. stock, to the holders of Union Financial’s common stock. The combined entity will have approximately $340 million in assets. “The combination of United Labor Bank and Union Savings Bank will provide greater opportunities for both banks and will...
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