Bank of McKenney
200 Johnson Creek Dr, Chester, VA 23836, USA
Bank of McKenney (OTC Pink: BOMK) (“McKenney“), announced today completion of its merger with CCB Bankshares, Inc. (“CCB”) and its subsidiary, Citizens Community Bank, at the close of business on November 10, 2017. The merger follows the June 2017 signing of a definitive agreement between the two companies. Immediately following the merger, McKenney changed its name to Touchstone Bank (“Touchstone”). Pursuant to the terms of the merger agreement, the exchange ratio for CCB shareholders receiving Touchstone common stock is 0.9350 shares. Touchstone shares will continue to trade on OTC markets under the ticker symbol BOMK until approval of a new symbol is received.
“We are very pleased to welcome the CCB team as we combine to create Touchstone Bank,” said Richard M. Liles, Executive Chairman of Touchstone. “Together, we are well positioned to grow our franchise by becoming the community bank of choice in the markets we serve. Both organizations bring employees with significant experience and deep knowledge of their local markets. We believe this combination will offer us opportunities to continue creating shareholder value by delivering on the competitive advantage that true community banking provides.”