DFCU Financial Announces Intent to Acquire Gulfside Bank, Further Expanding Florida Footprint
DEARBORN, Mich. and SARASOTA, Fla., Oct. 19, 2026 (GLOBE NEWSWIRE) -- DFCU Financial, one of Michigan's largest and
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DEARBORN, Mich. and SARASOTA, Fla., Oct. 19, 2026 (GLOBE NEWSWIRE) — DFCU Financial, one of Michigan’s largest and most trusted credit unions, is pleased to announce its intent to acquire Gulfside Bank (Gulfside), a growing financial institution 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.
Gulfside Bank, founded in 2018, 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.
DFCU Financial, established in 1950, 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.
“This acquisition represents an important milestone in our long-term growth strategy and reflects our shared commitment to delivering exceptional service, building lasting relationships, and creating meaningful value for our members and communities. By bringing our organizations together, we are combining complementary strengths, expanding our capabilities, and positioning the combined institution for continued success. We are excited about the opportunities ahead and look forward to building on this strong foundation for the benefit of our members, employees, and the communities we proudly serve” said Ryan Goldberg, President and CEO of DFCU Financial.
Dennis Murphy, President and CEO of Gulfside, commented, “This partnership represents an exciting next chapter for our organization, our clients, and the communities we serve. By joining forces with a larger financial institution that shares our commitment to relationship-driven community banking, we are creating new opportunities for growth while preserving the personal service and local relationships that have always defined us. We believe this combination will enhance the value we deliver to our clients, expand the resources and solutions available to them, and position the combined organization for continued success in the years ahead.”
As part of the acquisition, DFCU Financial has named Murphy Sarasota / Manatee Area President, and he will retain leadership responsibilities for the former Gulfside operations. DFCU will also retain Gulfside’s branch locations, which will be rebranded under the DFCU Financial name with plans to integrate services in the second half of 2027.
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.
DFCU Financial is being advised by the investment banking firm FHN Financial Securities Corp., and the law firm Honigman LLP. Gulfside is being advised by the investment banking firm Hovde Group, LLC, and the law firm Smith Mackinnon, PA.
For more information, please visit dfcufinancial.com or contact Sarah Perez at 813.925.5864 x3698.
About DFCU Financial
DFCU Financial is a leading Michigan-based credit union founded in 1950. With more than 242,000 members and assets in excess of $8 billion, DFCU has 30 full-service branches in metro Detroit, Ann Arbor, Grand Rapids and Lansing, MI, as well as five in the Tampa Bay area, two in the Orlando area, one in Naples, FL and one in Ft. Myers, FL, which are staffed by local financial specialists uniquely qualified to help members and businesses achieve important financial milestones. DFCU offers a wide range of financial products and services, and is dedicated to providing value through competitive rates, excellent member service, and unique member benefits like its industry-leading Cash Back program.
About Gulfside Bank
Gulfside Bank is Sarasota’s only locally owned community bank offering a variety of retail, commercial, and private banking services. The Bank was founded by a diverse group of business leaders deeply rooted in the local community. Our founding Directors and employees share the belief that community banks make a positive and lasting impact on the communities in which they operate. As of June 30, 2026, Gulfside had total assets of approximately $345 million, loans of $256 million, and deposits of $294 million.
Media Contact: Sarah Perez SVP, Director of Communications DFCU Financial Phone: 813.925.5864 x3698 Email: sarah.perez@dfcufinancial.com
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