Bank expands offerings through the acquisition
Utah-based Security Home Mortgage (SHM) has announced its business combination with Capital Community Bank (CCBank).
Under the acquisition, SHM will become an independently operated subsidiary division of CCBank, integrating its mortgage expertise with CCBank’s existing banking products.
The community bank said in a statement that the deal marks a major milestone in its growth strategy, allowing CCBank to expand its financial services portfolio and better serve local communities.
“Today, we bring together two established Utah companies to better serve our clients in the financial services space,” said Matt Field, CCBank’s president and chief financial officer. “CCBank and Security Home Mortgage are well-established Utah companies, and this partnership enables us to strengthen our market position to continue delivering industry-leading financial products, services, and home mortgages to our friends, families, and neighbors who entrust us with their financial well-being.”
By combining forces, the companies aim to provide enhanced financial stability, support and new product offerings.
“Looking ahead, we are excited about the opportunities this acquisition presents,” SMH president Jon Chamberlain said. “We are dedicated to leveraging the combined strengths of CCBank and SHM to innovate and enhance our product and service offerings, ensuring we remain at the forefront of the banking and mortgage industries to meet the diverse needs of our customers, partners, and personnel.”
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Both CCBank and SHM have committed to a seamless transition, ensuring existing customers continue receiving exceptional service uninterrupted. SHM customers will gain access to CCBank’s commercial and personal lending, as well as deposit products.
“This acquisition will be seamless for all involved, and we expect no impact on SHM’s customers or personnel,” Field added. “We will maintain the excellent infrastructure SHM has in place and welcome all SHM personnel to the CCBank family with Jon Chamberlain and Charlie Green continuing their leadership of SHM—with Chamberlain continuing his role as president of SHM.”
The companies did not reveal the financial terms of the deal.
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