Community First Credit Union acquires First Southern Bank

Truck dealers and equipment lenders led M&A activity in the equipment sector during November as companies look to improve their regional competitiveness. 

Community First Credit Union of Florida agreed to acquire nearly all assets and liabilities of First Southern Bank for an undisclosed amount under a deal unanimously approved by both institutions’ boards, according to a Nov. 18 Community First release. When the deal closes, FSBH, the holding company for First Southern, intends to liquidate and distribute any remaining assets to shareholders. 

The deal expands Jacksonville, Fla.-based Community First to about $3.3 billion in assets, $2.5 billion in loans and 31 branches across Georgia and Florida, according to the release. The acquisition strengthens its commercial and small-business offerings and broadens its commercial banking talent base. 

Waycross. Ga.-based First Southern Bank customers will gain access to Community First’s consumer and business services, according to the release. The deal is expected to close in the second or third quarter of 2026, pending regulatory and FSBH shareholder approval. 

First Financial completes Westfield acquisition 

First Financial Bancorp closed its acquisition of Westfield Bancorp, parent of Westfield Bank, in a cash-and-stock transaction with Westfield’s parent company, Ohio Farmers Insurance, valued at $325 million, according to a Nov. 3 First Financial release. The deal increases First Financial’s assets to $20.6 billion and expands its reach in commercial, retail and wealth management across northeast Ohio. 

All Westfield Bank retail branches and commercial, insurance agency banking and private-banking services are now part of First Financial’s Midwest platform, according to the release. Westfield locations will be rebranded as First Financial once the system conversion process ends, expected in March 2026. 

The transaction completes another step in First Financial’s Midwest expansion, with First Financial adding new commercial banking offices in northeast Ohio and Grand Rapids, Mich., as well as the acquisition of Chicago-based BankFinancial this year. Cincinnati-based First Financial provides wealth management and commercial, retail, mortgage and commercial finance. It manages about $4 billion in client assets. 

Coast Counties Truck & Equipment adds Golden State Peterbilt 

Coast Counties Truck & Equipment acquired the business assets of Golden State Peterbilt for an undisclosed amount, according to a Nov. 4 Coast Counties release. The move expands Coast Counties’ footprint and strengthens its Peterbilt support network in central and Northern California. 

Former Golden State Peterbilt locations are operating as Coast Counties-East, with all employees at those branches being retained, according to the release. The acquisition enhances San Jose, Calif.-based Coast Counties’ ability to provide consistent sales, parts, service and truck leasing solutions. 

Coast Counties is a full-service Peterbilt dealership group with operations throughout northern and central California, according to the release. It is part of the Jim Pattison Group, a diversified holding company with more than 800 locations worldwide. 

Kriete Truck Centers buys fellow truck dealer  

Milwaukee-based Kriete Truck Centers acquired Badger Truck Center, located in the West Allis, Wis., according to a Nov. 4 Kriete release. Terms of the deal were not disclosed. 

The addition expands Kriete’s footprint to 11 locations across Wisconsin, according to the release. The nearly nine-acre Badger Truck Center site doubles Kriete Truck Centers’ Milwaukee market presence. 

The new location allows Kriete to offer a full lineup of Class 3 to Class 8 trucks, including Mack, Volvo, Hino, Isuzu and Autocar, and becomes the company’s third Milwaukee-area branch since its founding in 1951.  

TLG Peterbilt adds Performance Peterbilt 

The Larson Group, known as TLG Peterbilt, acquired Performance Peterbilt for an undisclosed amount, according to a Nov. 17 TLG Peterbilt release. With the transaction, the Springfield, Mo.-based dealership group adds eight locations in Georgia, Florida and Mississippi.  

The deal brings together two family-owned Peterbilt dealerships and expands TLG’s footprint across the Southeast, according to the release. All Performance sites have been rebranded under the TLG Peterbilt name. 

With the acquisition, TLG Peterbilt runs 34 commercial truck locations across 11 states, offering new and used trucks, parts and service, according to the release. TLG’s products and services are purchased by 10,000 U.S. companies, according to the company. 

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