Dear RBAZ Customers – RBAZ Announces Closing of Asset Sale and Stock Transfer Records with Pima Federal Credit Union
06/03/24
Phoenix, Arizona – March 17, 2025. RBAZ Bancorp, Inc. (OTCPK: RBAZ) (“RBAZ”), the holding company of Republic Bank of Arizona, an Arizona state bank (“Republic Bank”), today announced that all necessary regulatory approvals have been obtained to complete the sale of substantially all of the assets and liabilities (the “Asset Sale”) of Republic Bank to Pima Federal Credit Union (“Pima Federal”) under the Purchase and Assumption Agreement, dated as of May 16, 2024 (the “Purchase Agreement”), by and among RBAZ, Republic Bank and Pima Federal. RBAZ shareholders also have approved the Purchase Agreement and the transactions contemplated thereby. RBAZ expects to close the Asset Sale on May 2, 2025, subject to the satisfaction of customary closing conditions under the Purchase Agreement.
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