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Mountain America exiting New Mexico with branch deal

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1 year ago

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Mountain America exiting New Mexico with branch deal


Mountain America Credit Union, one of the nation’s largest, plans to exit New Mexico with a branch deal expected to close early in 2025.

Paul Brady/pabrady63 – stock.adobe.com

A New Mexico-based credit union is bulking up in its home town, acquiring two branches from the $20.3 billion-asset Mountain America Credit Union in Sandy, Utah. 

Members of Mountain America’s two branches in Albuquerque, New Mexico, approved the transaction earlier this month, paving the way for their acquisition by Sunward Credit Union. Expected to close early next year, the deal will result in Mountain America’s exit from New Mexico. No terms were disclosed. 

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Mountain West said in a press release it entered into the agreement with Sunward to focus on other geographies. Mountain West operates more than 100 branches in Utah, Nevada, Arizona and Idaho. A spokesperson had not responded to a request for comment at deadline. 

For the $4.2 billion-asset Sunward, founded in 1948 by employees of Sandia National Laboratories, Albuquerque is a core market. Sunward’s presence includes its headquarters and six other branches. “This addition will strengthen our position and ability to deliver on our goal of making banking better in the Southwest, and in New Mexico specifically,” Sunward CEO Steph Sherrodd said in a press release. 

Albuquerque credit unions have been active acquirers in 2024. The most prominent deals, however, involved banks. In March, the $4.9 billion-asset Nusenda Credit Union completed a deal to acquire the $327 million-asset Western Heritage Bank in Las Cruces. In August, the $1.5 billion-asset U.S. Eagle Credit Union said it planned to acquire the $475 million-asset, Albuquerque-based Southwest Capital Bank. No terms were announced in either instance. 

Branch sales between credit unions are relatively infrequent events, with about five taking place in any given year, Michael Bell, a partner with the Honigman law firm who specializes in credit union deals, said Tuesday in an interview. Like Mountain America’s agreement with Sunward, most involve one institution seeking to “right-size its footprint,” Bell said. 

Michael Bell, an attorney for Royal Credit Union.

Michael Bell

While credit union branch deals typically involve cash consideration for property, as well as a deposit premium, “I do believe there is an altruistic motive as well,” with sellers often concluding the buyers can better serve their members, Bell said. 

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Bell expects branch sales to occur more frequently, with credit unions that have shifted from  employment-based fields of membership to ones that are geographically-oriented moving to exit markets that made sense once but are now distant from the core service area. 

“Many credit unions do have odd footprints based on their historical genesis,” Bell said.

Sunward underwent a name change, from Sandia Laboratories Federal Credit Union, earlier this month. 

 



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New Mexico

New Mexico spoils Nevada’s Senior Day as Lobos leave Reno with 63-56 win

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3 hours ago

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March 1, 2026

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New Mexico spoils Nevada’s Senior Day as Lobos leave Reno with 63-56 win


The Nevada women’s basketball team dropped its final home contest of the 2025-26 season on Saturday with New Mexico spoiling Senior Day and pushing past the Wolf Pack for a 63-56 win.

The Wolf Pack led 36-34 at halftime behind a hot-shooting start. Skylar Durley, Imbie Jones and Ahrray Young each had six points as Nevada shot 14-of-25 from the field (56%). But things cooled off in the second half, with the Lobos outscoring the Wolf Pack 19-13 in the third quarter to take a four-point lead into the fourth. Nevada’s shooting woes only worsened in the final period when it made just three field goals, including none in the final four minutes.

Durley led Nevada with 16 points and six rebounds. Young finished with 10 points, three rebounds and three assists. The Wolf Pack made just one three-pointer out of its nine attempts.

The loss drops Nevada to 9-20 overall, 5-14 within the Mountain West Conference. The Wolf Pack now heads to Utah State for Tuesday’s regular-season finale before opening the Mountain West Tournament play next Saturday in Las Vegas.

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Watch our coverage of the game below.

Highlights and reaction from Nevada’s loss to New Mexico.



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New Mexico

San Diego State vs New Mexico Prediction, Picks & Odds for Today’s College Basketball Game

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15 hours ago

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February 28, 2026

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San Diego State vs New Mexico Prediction, Picks & Odds for Today’s College Basketball Game


Expect the offenses to shine when SDSU visits New Mexico in The Pit today, per our college basketball betting picks.

Feb 28, 2026 • 10:23 ET

• 4 min read

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New Mexico

Public Service Company of New Mexico Declares Preferred Dividend

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1 day ago

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February 28, 2026

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Public Service Company of New Mexico Declares Preferred Dividend


ALBUQUERQUE, N.M., Feb. 27, 2026 /PRNewswire/ — The Board of Directors of Public Service Company of New Mexico, a subsidiary of TXNM Energy (NYSE: TXNM), declared the regular quarterly dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. The preferred stock dividend is payable April 15, 2026, to shareholders of record at the close of business March 31, 2026.

Background:
TXNM Energy (NYSE: TXNM), an energy holding company based in Albuquerque, New Mexico, delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. For more information, visit the company’s website at www.TXNMEnergy.com.

CONTACTS:
Analysts
Lisa Goodman
(505) 241-2160

Media
Corporate Communications
(505) 241-2743 

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SOURCE TXNM Energy, Inc.



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