The parent of the $1.9
billion-asset Community National Bank & Trust said in a press release
Tuesday that it will pay $10.4 million in cash for the $71.3 million-asset
Quarry City, subject to adjustment. The deal is expected to close in the third
quarter.
"We are pleased with the opportunity to welcome Quarry City
and its employees and customers to Community National,” Daniel
Mildfelt, Community Bancorp’s president and CEO, said in the release.
“Both institutions share the principles of caring for their employees, the
communities they serve and providing high-quality products and services to
their customers.”
Quarry City was advised by The Capital Corporation and Luse Gorman.
Community Bancorp was advised by Minter & Pollak.
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