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The all-stock deal valued St.George at A$18.6 billion (US$17.5 billion), or A$33.10 a share, a premium of 28.5% to the closing price of St.George shares on 9 May in Australia. St.George shareholders received 1.31 Westpac shares for each St.George share and owned 28.1% of the new entity.
BankSA is a wholly owned entity of St George Bank, which is owned by the Westpac Banking Corporation. Westpac is a publicly listed ASX private company with an Australian Financial Services Licence (AFSL). Both BankSA and Westpac are a part of the Australian Prudential Banking Deposit Scheme, which gives government assurances of all deposits ...
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In December 2010, the NCUA approved the credit union’s offer to assume Salt Lake City's Beehive Credit Union's assets, making its first presence in the cities of Salt Lake City, Provo, Riverton, Sandy, South Jordan and St. George, Utah. Since 1974, Security Service has merged and acquired 21 credit unions located in Texas, Colorado and Utah.