MAX Credit Union to buy First Financial Bank
MAX Credit Union, headquartered in Montgomery, Alabama, has reached an agreement to purchase First Financial Bank, which operates in the Birmingham region. The financial terms of the acquisition remain undisclosed, but the transaction is expected to finalize in 2027, extending MAX’s operations into Alabama’s most populous urban center.
Under the terms of the deal, MAX will absorb eight First Financial branches, increasing its physical presence from 16 locations to 24—a 50% expansion. The credit union has committed to maintaining all existing First Financial branches, emphasizing the importance of the established customer relationships within those communities.
Martin Head, CEO of MAX, stated, “First Financial Bank has spent nearly 90 years earning the trust of the families and businesses in the markets it serves, and that’s exactly the kind of institution we wanted to partner with.” He further explained that both organizations prioritize community service as their primary measure of success.
B. Kyle Goodwin IV, CEO of FirstFed Bancorp, the parent company of First Financial, commented, “MAX has built an impressive reputation for outstanding service, strong community relationships, and helping its members achieve their financial goals.” He expressed confidence that MAX would uphold First Financial’s legacy of high-quality service for customers, employees, and the broader community.
This acquisition represents MAX’s first-ever purchase of a bank, injecting an additional $245 million in assets into its $2.3 billion portfolio. The transaction also marks the ninth such credit union bank acquisition in 2026, reflecting a moderation from the record 22 deals announced in 2024 and the 16 completed in 2023.
Critics, including the Independent Community Bankers of America (ICBA), argue that these acquisitions undermine small businesses and shrink local lending capacity. However, Scott Simpson, CEO of America’s Credit Unions, warns that potential tax code revisions could disrupt credit unions’ ability to support consumers and communities nationwide. With 146 million U.S. members relying on tax-exempt credit unions, such changes could have far-reaching financial consequences.
The MAX-First Financial merger still requires regulatory approval before proceeding. Once completed, MAX will offer expanded mortgage, wealth management, insurance, and business lending services throughout the Birmingham metropolitan area.
