BOSTON – The First Marblehead Corp. has announced the completion today of its planned acquisition of Union Federal Savings Bank in North Providence.
The deal received final approval on Nov. 22 from the U.S. Office of Thrift Supervision.
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First Marblehead said last week that Union Fed’s management and staff will stay in place, and the bank will continue to provide deposit and loan services to retail customers throughout the state.
Union Federal Savings Bank is a community bank with $40 million in assets and a single branch, in North Providence. The First Marblehead Corp. (NYSE: FMD) is a provider of outsourcing services for private, non-governmental education lending. For more information, go to www.firstmarblehead.com.
