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Approval granted for bank merger

Tuesday, January 24, 2012 3:51 PM | Printer friendly version | E-mail to a friend |

SALISBURY — Piedmont Community Bank Holdings, VantageSouth Bank and Community Bank of Rowan announced today the merger between VantageSouth and Rowan has received all necessary regulatory and shareholder approvals.

It is expected to close on Feb. 1.

“As part of a larger company with a bigger capital base, the combined bank will now be better positioned to serve the banking needs of businesses, business owners and professionals in the Alamance and Rowan communities,” Scott Custer, CEO of Piedmont, said in a press release. “We’re excited for what this merger means for our customers and feel certain that customers of both banks will continue to enjoy our honest, direct approach to community banking to which they’ve become accustomed.”

Rowan was established in 2006 and is headquartered in Salisbury. As of September, it had grown to 23 employees at two locations. Piedmont acquired 100 percent of Rowan in April.

Piedmont is the majority shareholder of VantageSouth, which was established in 2006 and is headquartered in Burlington. It currently serves Alamance County and the surrounding areas through two locations.

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