Tallahassee, FL – In a strategic move that strengthens its presence in North Florida, Lakeland-headquartered MidFlorida Credit Union has announced its planned acquisition of Prime Meridian Bank, a wholly-owned subsidiary of Prime Meridian Holding Company. The transaction is expected to close in the first quarter of 2026, pending regulatory and shareholder approvals.
The acquisition offer was extended to Prime Meridian earlier this year, and, according to Sammie Dixon, Vice Chairman, President, and CEO of Prime Meridian Bank, it checked all the right boxes: benefits for shareholders, job security for employees, and continued value for clients.
“They gave us a very nice offer that we couldn’t refuse,” Dixon told the Tallahassee Democrat. “More importantly, we’re going to have 100% retention of our entire team.”
Prime Meridian currently employs 123 people across four locations in Tallahassee, Crawfordville, and Lakeland. Dixon, who will take on the new role of Market President of North Florida post-merger, emphasized that both institutions share similar cultures, making the integration seamless.
“Having the opportunity to join a company like MidFlorida that values culture, offers a strong shareholder return, and guarantees my team’s future, you can learn to like a lot of people,” Dixon quipped.
Under the terms of the agreement, Prime Meridian shareholders will receive $58.50 in cash per share, subject to adjustment as outlined in the merger documents. The boards of directors from both institutions have already approved the deal, which now awaits the green light from regulatory bodies including the FDIC, the National Credit Union Administration, and Florida’s Office of Financial Regulation.
MidFlorida Credit Union President and CEO Steve Moseley highlighted the strategic importance of the acquisition. “We’ve been actively serving the Florida Panhandle in a lending capacity. This acquisition will add physical branches to support our expansion in both consumer and business banking,” he said in a statement.
For now, Prime Meridian’s signage and operations remain unchanged as both entities work through the transition. The move not only signals MidFlorida’s commitment to broader market coverage but also sets a precedent for mergers that prioritize both employee welfare and customer continuity.
