HAPO Community Credit Union’s pending acquisition of Community First Bank has led the financial institution to buy land for a new home for its growing team.

HAPO recently bought a 2.8-acre parcel of land near the intersection of west Clearwater Avenue and Utah Street for $3 million, according to county property records. The site is roughly one mile west of the HAPO Business Complex, also known as the flashcube building, which is the credit union’s headquarters.

Crystal Contreras, a HAPO spokeswoman, told the Tri-Cities Area Journal of Business the property will be the site of a future expansion of the credit union’s commercial banking division and other areas of need after HAPO and Community First combine.

Construction is anticipated to begin in the summer of 2025.

“This move is a critical part of our long-term vision to better serve our members and to establish an even stronger physical presence in the Tri-Cities,” she said. “With this acquisition, we now have an incredible opportunity to enhance our business lending offerings and expand our commercial services in ways that will directly benefit our members and the community.”

HAPO and Community First, which are both based in the Tri-Cities, jointly announced the acquisition deal in October.

When the deal is done, the new combined institution will have about $2.9 billion in assets, $2.5 billion in deposits and $2.2 billion in loans, and it will serve more than 220,000 members, with 25 branches across Washington and Oregon.

The deal is expected to be finalized in the third quarter of 2025, subject to regulatory approvals, Community First Bank shareholder approval and closing conditions. The boards of both institutions have signed off, and leaders of both institutions praised the proposed deal.

HFG Trust, a subsidiary of Community First Bank, will be restructured as an independent company, with the current management and staffing, the statement said. It will be owned by shareholders and overseen by a board of directors, HAPO said.

HFG Trust and Community First Bank together have more than 150 employees, and HFG Trust will end up with 35 when the deal is finalized. Community First Bank will move out of its shared office space at 8131 W. Grandridge Blvd. in Kennewick, giving HFG Trust plenty of room to expand.

HAPO will be an investor in the company and its members will have the option to use HFG Trust’s wealth management and trust services.