|Events & Promotions|
For immediate release
May 3, 2013
CBR Bancshares, Inc. owner of the Citizens Bank of Rogersville and a newly formed company, Wildcat Bancshares, Inc. announce the sale of CBR Bancshares to Wildcat Bancshares, Inc.
Nancy A. Ruyle, Secretary of CBR Bancshares, Inc. and President and CEO of the Citizens Bank of Rogersville and Brian VanFosson, President of Wildcat Bancshares, Inc. have jointly announced on May 3, 2013 an agreement whereby Wildcat Bancshares, Inc. will purchase all the stock of CBR Bancshares, Inc. Specific details regarding the purchase agreement were not disclosed. The acquisition is expected to be completed sometime later this summer after receipt of regulatory approvals.
The Citizens Bank of Rogersville has been serving the Rogersville and surrounding communities since 1908. It will continue to operate as an independent community bank but under a new management team headed by Brian VanFosson who has been the Senior Vice President of the Citizens Bank of Rogersville since 1997.
“We believe this is a wonderful new opportunity for the continuation of such a long successful tradition and would not expect our customers and the community to see anything but the same great service that we have always provided in the past” said Nancy Ruyle.
Senior Vice President Brian VanFosson said "The investor group is very excited about the opportunity to continue the legacy of service and community support that is a hallmark of Citizens Bank of Rogersville. We have a great staff in place, ready to serve our customers’ needs and an optimistic outlook for the future of Rogersville and surrounding area.”
Wildcat Bancshares, Inc. is comprised of mostly local investors that have long term relationships with the Bank and the community.