Daniel J. Thibeault and Shawnet M. Thibeault of Framingham, the owners of student loan service firm Graduate Leverage, have bought a controlling interest in the Imperial Savings & Loan Association of Martinsville, Va.
With the Thibeaults’ investment, Imperial can stay in business and “will emerge from the current recession well positioned to grow and prosper,” the bank said.
The Thibeaults said they expect to gain approval for the acquisition from the U.S. Office of Thrift Supervision this summer.
Imperial’s headquarters will remain in Martinsville. The minority-owned bank has been in business since 1929.
Graduate Leverage is based in Waltham and provides debt management and financial planning services to students.
Terms of the deal were not disclosed.
