San Francisco Federal Credit Union to Acquire Summit Bank in East Bay, California

▤ Summary

San Francisco Federal Credit Union has agreed to buy substantially all of Summit Bank’s assets and liabilities in an all-cash deal. The transaction will expand the credit union’s Bay Area presence, add Summit Bank locations to its branch network, and widen commercial services for member businesses. Both boards have approved the deal, and completion is expected in the first quarter of 2026 pending regulatory and shareholder approvals. Customers should continue normal banking operations until the transaction closes, and Summit Bank customers will become San Francisco Federal Credit Union members afterward.

▦ Linked Companies