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Investors applauded the deal, sending First Financial Northwest's stock price Expanding to the Empire State
up 48% on the day of the announcement. Both deals mark geographic expansion for credit union-bank deals, which have
been largely concentrated in the Southeast and Midwest. Catskill Hudson Bank
Catskill Hudson also received a hefty premium in its transaction. Hudson Valley is the first New York-based bank to be targeted by a credit union, while First
CU will pay $40.50 for each share of the company, a 119% premium to its Financial Northwest Bank is the third Washington-based bank to be scooped
$18.50 closing price the day before announcement. up by a credit union.
The Street also liked the Catskill Hudson deal, with the company's shares
closing up 103% the day of announcement.

– Access the S&P Capital IQ Pro M&A summary page for US financial institutions.
– Access a list of pending and completed M&A deals announced since Jan. 1, 2013.
– Read more M&A news.
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