Community Bancshares acquires Florida holding company

BRANDON — Community Bancshares of Mississippi Inc., the holding company for Community Banks throughout the Southeast, has acquired Community Holding Company of Florida Inc. and its subsidiary bank.

Terms were not disclosed.

With the completion of the Florida transaction, Community Bancshares will now operate Florida offices in Miramar Beach and Crestview.

Freddie Bagley, CEO of Community Bancshares, said: “The headlines read daily that banks are cutting back. They are closing branches, reducing their workforce, and streamlining their operations. Fortunately, Community Bancshares has been different and we have positioned our company to take advantage of the growth opportunities, such as this, that exist in the Southeast. We are committed to expanding our banking operations in Florida as a result of this transaction and we look forward to serving those communities.”