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Innovations Financial Credit Union announces intention to purchase First National Bank Northwest Florida

Panama City, FL (August 29, 2023) – Innovations Financial Credit Union, headquartered in Panama City, FL, has entered into an agreement to acquire First National Bank Northwest Florida, also located in Panama City, FL. This strategic move emphasizes Innovations’ commitment to delivering enhanced financial services to the local community.

The Innovations Board of Directors and the First National Bank Northwest Florida Board of Directors voted unanimously in favor of the merger and acquisition. The consolidated financial institutions will manage $570 Million in assets upon regulatory approval and operate eight branch locations with approximately 100 team members.

With his leadership spanning over 19 years, Mr. David Southall, President/CEO of Innovations, expresses his enthusiasm for this joint venture. Southall says, “By joining forces with First National Bank NW Florida, we can expand our branch and team member network, enhance our services, and create greater value for our members and community.” He adds, “This is an exciting step forward that will shape the future of both of our organizations in significant ways.” Upon regulatory approval, Southall will remain as President/CEO.

Mrs. Angie Barger, President & CEO of First National Bank, has served the institution for over three decades. “By combining our two local institutions’ strengths, expertise, and resources, we will continue our mission and commitment to deliver exceptional financial solutions and build upon the trusted relationships that have been our foundation. Our shared history and achievements have paved the way for this exciting merger, and I am confident that together we will create a stronger, more vibrant financial institution poised to meet our customers’ evolving needs,” states Mrs. Barger.

“As we bring together our two 5-Star rated financial institutions, we are excited to embark on this journey sharing the same commitment to excellence and community,” in a joint statement by Barger & Southall.

Innovations Financial Credit Union has served its members since 1952 by helping them to build a sound financial future. Presently, Innovations has over 23,700 members and manages assets in excess of $396 million. Innovations Financial Credit Union serves the financial needs of people who live, work, attend school, or worship in Bay, Holmes, Washington, Jackson, Calhoun, Gulf, and Walton Counties. For more information about Innovations Financial Credit Union, please contact us at 850.233.4400 or visit

First National Bank Northwest Florida, a 5-star rated bank, opened on May 5, 1984 and is the oldest local community bank in the area. The goal of the bank has always been to provide the best possible customer service. The same banking services as a regional bank but with a local “family feel.” You will likely see the same faces year after year – most of our staff has been with us an average of 15 years. Most of our officers have on average over 25 years with the institution and whose families have been in our local community for several generations. Visit us in person or at

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