Community Financial Corp. executes agreement to acquire American Bancshares Inc. and American Bank of Illinois in Highland.OLNEY Olney is the name of a place in the United Kingdom:
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 .NMS See NetWare Management System. :CFIC CFIC Campaign Finance Information Center CFIC Central Florida Innovation Corporation CFIC Canadian Food Industry Council CFIC Central Flight Instructor Course CFIC Christian Friends of Israeli Communities CFIC Canadian Forest Industries Council ), the holding company for Community Bank & Trust, N.A., and American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Bancshares Inc., the holding company for American Bank of Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. in Highland, announced today that they have signed an agreement pursuant to which Community Financial Corp. will acquire American Bancshares Inc. for a cash purchase price not to exceed $2.15 million. American Bank of Illinois in Highland has two offices, located in Highland and Pocahontas Pocahontas (pōkəhŏn`təs), c.1595–1617, Native North American woman, daughter of Chief Powhatan. Pocahontas, meaning "playful one" (her real name was said to be Matoaka), used to visit the English in Virginia at Jamestown. , Ill., with total assets of $18 million. It is anticipated that American Bank of Illinois in Highland will remain an independent bank as a subsidiary of Community Financial Corp. following the acquisition. All existing directors of American Bank of Illinois in Highland will continue to serve as directors of that bank. All American Bank staff members will be retained to ensure the high level of service the customers have come to expect. "Community Financial Corp. is very enthusiastic about its agreement to purchase American Bancshares Inc.," stated Shirley Shir·ley , William 1694-1771. British colonial administrator who was governor of Massachusetts (1741-1749 and 1753-1756) and commanded British forces in the French and Indian War. B. Kessler, president of Community Financial Corp. "We are excited about the growth potential this market holds and the opportunity to offer our existing products to new customers." Karl Tauber, president of American Bank of Illinois in Highland, said, "We have been seeking a partner to enhance our product offerings and enable us to better serve our communities. Community Bank & Trust provides the same kind of personal service that has been the foundation of our growth. We are confident that our customers will benefit from this affiliation." The acquisition would result in consolidated assets for Community Financial Corp. of approximately $203.3 million, consolidated loans of approximately $134.1 million and consolidated deposits of approximately $154.2 million based on Sept. 30, 1996 financial information. The acquisition is expected to be completed in the second quarter of 1997 and is subject to various conditions, including regulatory approval. Community Financial Corp. is the holding company for Community Bank & Trust, N.A., which conducts business through its main office and four branch offices located in Southeastern Illinois. At Sept. 30, 1996, the company had 2,387,112 shares of common stock issued and outstanding, 716 shareholders of record, and total assets of $185 million on a consolidated basis. CONTACT: Community Financial Corp., Olney Shirley B. Kessler, 618/395-8676 |
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