FIRST AMERICA BANK AND MANATEE RIVER COMMUNITY BANK
First America Bank and Manatee River Community Bank have received final approval for merger. The merger approval has now been given by all regulatory agencies and both institutions received shareholder approval in September.
The combined management team and Board of Directors will form a preeminent community bank in Manatee/Sarasota counties. Doing business under the First America Bank name, the financial institution will have approximately $285 million in total assets and will be headquartered at First America’s existing office, 2811 Manatee Avenue West, in Bradenton.
With five branches stretching from Ellenton to Osprey, First America Bank will offer an extensive product line of commercial, residential and consumer products. Both banks share the same management philosophies of exceptional customer service, sound lending practices and a strong equity position.
“The combined institution will be a strong community partner with the ability to offer more diversified products and services to better serve customers,” stated Daniel S. Hager who will serve as Chairman and CEO.
Allen Langford will serve as President of the combined bank. “There will not be branch closings or employee reductions. Our Banks’ have worked in the same market place for years. We both share a philosophy of building and sustaining strong customer relationships.” said Langford.
Neither, First America Bank or Manatee River Community Bank has received Federal assistance. Both financial institutions are funded by shareholders who are largely all local residents.
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