Transaction Announcement: DFCU Financial has agreed to acquire Gulfside Bank

The Transaction

On October 19, 2026, DFCU Financial announced its intent to acquire Gulfside Bank (Gulfside), based in Sarasota, FL. This acquisition marks DFCU Financial’s fourth transaction within the state of Florida since 2023, expanding upon its commitment to serving the Florida region with comprehensive financial services and superior member experiences.

The acquisition of Gulfside will complement DFCU Financial’s existing presence in Florida by filling in a targeted market between its existing branches in the Tampa/St. Petersburg market and the Naples/Ft. Myers market. Further, it presents an entry point into the 5th-largest MSA in the state and provides DFCU Financial with branches in four of the top seven MSAs in Florida.

The merger has been unanimously approved by the Board of Directors of DFCU Financial and Gulfside Bank. The acquisition is subject to regulatory approval, and both institutions are working closely to ensure the necessary processes are followed.

FHN Financial Securities Corp. served as financial advisor to DFCU Financial in connection with the transaction. Please contact Greg Cunningham at (313) 701-6075 or Andrew Christians, CFA at (313) 701-1463 for further information.

For more information on this transaction, please click here.

DFCU Financial

Established in 1950, DFCU Financial has consistently grown its membership and financial service offerings over the years. With a commitment to innovation and member satisfaction, DFCU provides an array of services including business and personal banking, loan products, and wealth management solutions. The credit union is particularly known for its member-driven values and competitive advantages such as its Cash Back program, favorable loan rates, and transparent banking.

Gulfside Bank

Founded in 2018, Gulfside Bank serves the Sarasota market area with local decision making, customized product offerings, and an individualized, relationship-based approach towards client service. The acquisition of Gulfside will complement DFCU Financial’s existing presence in Florida by filling in a targeted market between its existing branches in the Tampa/St. Petersburg market and the Naples/Ft. Myers market. Further, it presents an entry point into the 5th-largest MSA in the state and provides DFCU Financial with branches in four of the top seven MSAs in Florida.  The combined entity will allow DFCU Financial to expand its offerings to a broader base of members, delivering the same market-leading products, services, and benefits that have made it a trusted name in Michigan and beyond.

FHN Financial

FHN Financial is a leading capital markets firm serving a range of institutional, municipal, and corporate customers across the globe. As a division of First Horizon Bank, FHN Financial combines enterprise-scale resources with specialized expertise. FHN Financial's various business lines deliver a full suite of fixed income products, strategies, services, investment banking, and balance sheet management solutions.

FHN Financial Transaction Team

Greg Cunningham | Managing Director | greg.cunningham@fhnfinancial.com

Andrew Christians, CFA | Managing Director | andrew.christians@fhnfinancial.com

Chandler Lail, CPA | Associate | chandler.lail@fhnfinancial.com

Tim Xia, CFA | Associate | tim.xia@fhnfinancial.com