Southern Hills Community Bank of Leesburg and The Adams County Building and Loan Company of West Union have announced the signing of a merger agreement.
A press release announcing the merger stated that “each bank is highly-focused on its strong commitment to seving customers and involvement in the community.”
With the completion of Southern Hills’ current merger with Ripley Federal Savings Bank on Oct. 23, 2017, the combined banks will operate in Highland, Brown and Adams counties.
“This merger is extremely favorable for all of our customers, employees and communities of both banks,” said Jeff Cloud, president and CEO of Southern Hills Community Bank. “This will further increase and strengthen our combined ability to serve our local and regional markets, customers and businesses that have made both banks successful. We are proud to serve our communities and look forward to this endeavor that will allow us to provide more convenience to our customers with the exceptional service from the people they know and trust.”
Randy Brodt, president and CEO of The Adams County Building and Loan Company, said, “We look forward to our futue together as a combined bank and to the positive impact this merger will have in Adams County and the surrounding area. We are ensuring the longevity of our hometown bank that is deeply rooted to the communities we serve.”
The combined bank will operate under Southern Hills Community Bank’s name, with the main office located in Leesburg. Southern Hills will have branches in Leesburg, Greenfield, Lynchburg, Ripley, Georgetown, West Union and Peebles, with an approximate asset size of $175 million.
