Bradford Bancorp, Inc, the parent company of Bradford National Bank, and Community Bancshares, Inc., the parent company of Community Trust Bank, have jointly announced that the two companies have signed a definitive agreement to merge, pending customary regulatory and Community Bancshares, Inc. shareholder approvals.
Following the completion of the merger expected later this year or early in 2023, the two entities will operate under the name Bradford National Bank
The announcement was made by Michael Ennen, President and CEO of Bradford National Bank, and Sheila Burcham, President and CEO of Community Trust Bank.
Founded in 1867, Bradford National Bank is a full-service community bank and is the tenth oldest bank in Illinois with locations in Greenville, Highland, and Marine, IL. Community Trust Bank has operated for more than 100 years and has locations in Irvington, Centralia, and Nashville, IL.
President Ennen said, “Both organizations have demonstrated great success by providing outstanding customer service and building strong relationships with the communities they serve. We are excited to expand on our brand of community banking which includes local people, local commitment, local decisions, and local investment.”
“We are excited about the merger,” Burcham said. “We believe that by joining forces the result will be enhanced, more diverse financial services for our customers with greatly expanded lending limits.”
Both banks pride themselves on being community minded and invest heavily in local organizations to promote the growth of the areas they serve.
