M&A: Affinity Bancshares, Inc.

Form Type: 8-K

Filing Date: 2024-12-30

Corporate Action: Merger

Type: Termination

Accession Number: 000094337424000512

Comments: On December 30, 2024, Affinity Bancshares, Inc. along with Affinity Bank and Atlanta Postal Credit Union (APCU) entered into a Mutual Termination of Purchase and Assumption Agreement, effectively terminating the previously agreed Purchase Agreement dated May 30, 2024. Under the Purchase Agreement, APCU was set to acquire substantially all of Affinity Bank's assets and assume its liabilities. Both parties decided to mutually terminate the agreement following discussions with regulatory agencies, which led APCU to withdraw its application with the Georgia Department of Banking and Finance related to the transaction. The termination does not involve any termination fee, and each party will bear its own costs associated with the terminated transaction. Additionally, the termination agreement releases both parties from any future claims related to the terminated purchase.

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