Achieva Credit Union said Tuesday it has signed an agreement to acquire Calusa Bank, a Florida state-chartered bank in Sarasota and Charlotte counties with $165 million in assets.

This would be the first acquisition of a bank by a credit union in Florida, and only the seventh nationally. The merger, which has to receive Calusa and regulatory approval, would bring Achieva’s number of branches to 24 and total assets to $1.3 billion. Read more