WASHINGTON?”EURAmerica's Community Bankers announced today thatits board of directors unanimously approved the previouslyannounced merger with the American Bankers Association.
|The merger now must be approved by the membership of both ACBand ABA; the ABA Board has already approved the move. ABA's memberswill vote Oct. 9 and ACB membership will vote Oct. 16.
|ACB Chairman Mark E. Macomber said, “Today's vote underscoresour board's belief that we are combining two great organizationsinto one extraordinary organization that will serve its memberswell through outstanding advocacy, an experienced and talentedstaff, a wealth of education and training programs and an unmatchedbreadth 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, whichtotals $11.5 trillion. Ed Yingling will remain in his current roleas president/CEO. Diane Casey-Landry, currently president/CEO ofACB, will become executive vice president/chief operatingofficer.
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