WASHINGTON?”EURAmerica's Community Bankers announced today that its board of directors unanimously approved the previously announced merger with the American Bankers Association.
The merger now must be approved by the membership of both ACB and ABA; the ABA Board has already approved the move. ABA's members will vote Oct. 9 and ACB membership will vote Oct. 16.
ACB Chairman Mark E. Macomber said, “Today's vote underscores our board's belief that we are combining two great organizations into one extraordinary organization that will serve its members well through outstanding advocacy, an experienced and talented staff, a wealth of education and training programs and an unmatched breadth and depth of products and services.”
If approved, the merger will become effective Dec. 1.
The combined organization, which will maintain the ABA name, will encompass 95% of the assets of the banking industry, which totals $11.5 trillion. Ed Yingling will remain in his current role as president/CEO. Diane Casey-Landry, currently president/CEO of ACB, will become executive vice president/chief operating officer.
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