The $279 million PrimeWay FCU of Houston is nearing regulatory completion for a merger with the ailing $125 million TexasOne Community CU, also of Houston.

A PrimeWay spokeswoman said, "We are waiting on the final paperwork" from the NCUA.

PrimeWay had announced in March a preliminary agreement to consolidate TexasOne, which suffered back-to-back losses of $2.8 million in 2009 and $4.7 million the year before. It also lost $655,000 in the first quarter of this year.

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