Consumer National Bank's Merger with State Bank & Trust Company Receives Approval
The merger of two metro-Jackson, Mississippi banks has received federal and state regulatory approval.
Ridegeland, MS (PRWEB) May 15, 2006 -- John B. Neville, chief executive officer, State Bank & Trust Company, and Craig Robinson, president and CEO, Consumer National Bank, announced today that their merger plans have received full regulatory approval.
“We are working hand-in-hand daily with the officers and staff of CNB. This merger shall mark the beginning of a new era in banking history for this area. Together, we shall provide the quality of banking service and responsiveness not seen here in decades,” said Neville.
By June 1, signage at all Consumer National Bank locations will be changed to State Bank & Trust Company. The merger will give State Bank & Trust Company seven banking locations in the metro-Jackson area in addition to their corporate headquarters located on Highland Colony Parkway in Ridgeland. Additional locations, currently on the drawing board, shall be announced shortly.
“It doesn’t really mean anything if you have a branch bank on every corner in town if no one inside has decision making authority. I assure you that after our merger, this community will discover that a huge void in local financial services has just been filled,” Robinson said.
Upon completion of the merger, the combined assets of State Bank & Trust Company shall be approximately $850 million. In addition to its 25 Mississippi locations, State Bank has six locations in Louisiana from Covington to Baton Rouge and will open additional branches Mandeville and Hammond within the next month.
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