Community Bankshares shareholders approve acquisition of Centerpoint Bank.CONCORD, N.H.--(BUSINESS WIRE)--Jan. 26, 1996--Community Bankshares Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CBNH), parent company of Concord Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , conducted its annual meting of shareholderds on Jan. 25, 1996. At the meeting, shareholders voted to approve the merger agreement under which Community Bankshares Inc. will acquire Centerpoint Bank, headquartered in Bedford, N.H. In voting on other matters, shareholders approved an increase in the company's authorized common stock, re-elected Russell A. Holden, Lucia P. Kittredge, Seth A. Resnicoff and Katherine F. Tsouros to the company's board of directors, and ratified the appointment of KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen Peat Marwick LLP LLP - Lower Layer Protocol as the company's independent auditors. Shareholders also voted to adjourn adjourn v. the final closing of a meeting, such as a convention, a meeting of the board of directors, or any official gathering. It should not be confused with a recess, meaning the meeting will break and then continue at a later time. (See: recess, session) the meeting until Feb. 15, 1996 to allow further solicitation of proxies on the proposal to amend the company's articles of incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. to change certain shareholder voting requirements. In commenting on the voting results, Douglas Crichfield, president and chief executive officer, stated, "We are very pleased that our shareholders approved the acquisition of Centerpoint Bank, an important strategic step for the future of their company. We look forward to Centerpoint Bank joining the Community Bankshares family, and working together to deliver our unique brand of personalized banking service to the residents, businesses and municipalities of New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). . We expect the merger transaction to be completed by the end of the first quarter of calendar year 1996." Community Bankshares Inc. is traded on the NASDAQ National Market System under the symbol "CBNH." Deposits in the company's principal subsidiary, Concord Savings Bank, are insured up to applicable limits by the Federal Deposit Insurance Corp. The Concord Savings Bank subsidiary offers a wide range of financial services to consumers, businesses and municipalities throughout New Hampshire with five offices in central New Hampshire. Centerpoint Bank, a state chartered commercial bank, operates three offices in Hillsborough County, N.H., the largest market for financial services in the state. Community Bankshares Inc. can be reached via e-mail through the Internet at bankshares@cbnh.nh.com. CONTACT: Community Bankshares Inc., Concord Richard Kamp, 603/224-1100 |
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