Lenox National Bank Shareholders OK Deal With Adams Community Bank| 10:42AM / Monday, July 20, 2015 | |
ADAMS, Mass. — Shareholders of Lenox National Bank approved the merger agreement pursuant to which Adams Community Bank will acquire the Lenox National Bank.
Both Charles P. O’Brien, Adams Community Bank president and CEO, and Paul Merlino, president and CEO of Lenox National Bank, expressed sincere appreciation for the strong level of support shown by the shareholders.
The transaction will have a value of approximately $14.3 million upon consummation of the merger following regulatory approval and the satisfaction of the other conditions of the merger agreement.
The combined bank will have $465 million in assets and eight full-service offices serving Berkshire County in Adams, Cheshire, Lanesboro, Lee, Lenox, North Adams and Williamstown.
The transaction is expected to be completed in the fourth quarter.
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