Sky Financial Group acquires Union Federal Bank for $330 million
Clients Sky Financial Group, Inc.
Jones Day advised Sky Financial Group, Inc. in its $330 million acquisition of Union Federal Bank of Indianapolis and its parent company, Waterfield Mortgage Company, Incorporated.
To facilitate the acquisition, Sky Financial formed a transitory subsidiary that merged with Waterfield Mortgage Company, Incorporated. Upon completion of the transaction, Sky Financial merged Union Federal Bank into Sky Bank, Sky Financial's commercial banking affiliate. Waterfield's insurance affiliate Waterfield Insurance Agency has been integrated into Sky Insurance.