June 3, 2024

On May 30, 2024, Affinity Bancshares, Inc. and its wholly-owned subsidiary, Affinity Bank, National Association, announced the signing of a definitive purchase and assumption agreement with Atlanta Postal Credit Union, pursuant to which Atlanta Postal Credit Union will acquire the assets and assume the liabilities of Affinity Bank in an all-cash transaction. Following the completion of the acquisition, Affinity Bancshares, Inc. will settle its remaining obligations and distribute its remaining cash to its shareholders.

Affinity Bancshares, Inc. is the holding company for Affinity Bank and has approximately $870 million in assets.

Atlanta Postal Credit Union has approximately $2.4 billion in assets.

Luse Gorman is serving as legal counsel to Affinity Bancshares, Inc. and Affinity Bank in the transaction. The Luse Gorman team consists of Thomas Hutton, Ned Quint and Victor Cangelosi.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past five years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.