Alabama, Florida banks vote to merge with Community
by MBJ Staff
Published: February 21,2013
BILOXI — The boards of directors of Community Bank, National Association, based in Alabama and the recently acquired Community Bank, Destin, Fla., have voted to merge with Community Bank, Coast, headquartered in Biloxi.
Terms were not disclosed.
According to Community Bank, the merger creates a $588-million bank consisting of 15 offices of Community Bank from Gulfport to Panama City Beach, Fla.
Community Bank, Coast, will remain under the leadership of the current CEO, David M. Hughes, with Charles W. Nicholson Jr., COO of the bank’s holding company, becoming the new chairman of the board. Oliver Latil IV will serve as vice chairman and Alabama CEO with Fred O. Leopold Jr., as vice chairman and Florida CEO.
The new bank will join a family of Community Banks, consisting of $639-million Community Bank of Mississippi, $650-million Community Bank, Ellisville, and $482imillion Community Bank, North Mississippi – all under the umbrella of the banks’ holding company, Community Bancshares, with combined assets of $2.4 billion and 40 offices in Mississippi, Alabama, Florida and Tennessee.
To sign up for Mississippi Business Daily Updates, click here.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Shale oil: market correction or longterm direction?
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- J.McLaughlin to open in Highland Village next spring
- Hyatt-Place is Columbus’ newest hotel option
- DAVID DALLAS: Who in the Hell are We?
- Miss. surgeon sentenced in tax evasion case
- 'Blue Economy' important for Mississippi's future
- Tanger Outlets involved in Southaven project