Community Banks, Inc. Consummates Mergers
02 Abril 2007 - 10:22AM
PR Newswire (US)
HARRISBURG, Pa., April 2 /PRNewswire-FirstCall/ -- Community Banks,
Inc. (NASDAQ:CMTY) announced completion of the mergers with East
Prospect State Bank and BUCS Financial Corp (OTC:BUCS) (BULLETIN
BOARD: BUCS) , effective April 1, 2007. East Prospect State Bank
has one banking office in East Prospect, Pennsylvania and over $57
million in total assets. East Prospect's banking office will become
a part of CommunityBanks' York Region and its twenty-first office
in York County. BUCS Financial Corp, a bank holding company with
approximately $149 million in assets and four banking offices, is
headquartered in Owings Mills, Maryland. Herbert J. Moltzan,
previous President and CEO of BUCS, will become the President of
Community's new Central Maryland Region, which includes the four
BUCS banking offices, as well as two banking offices Community
currently operates in Carroll County, Maryland. With these mergers,
CommunityBanks has committed $200,000 to support various local
organizations in the East Prospect area, as well as Baltimore,
Carroll, and Howard Counties in Maryland. CommunityBanks, bank
subsidiary of Community Banks, Inc., operates 80 banking offices
throughout central and eastern Pennsylvania and northern Maryland.
In addition to banking services, CommunityBanks offers complete
insurance, investment, trust & asset management and title &
settlement services. CommunityBanks Insurance Services, LLC is a
wholly owned subsidiary of CommunityBanks. This press release
contains "forward looking" information as defined by the Private
Securities Litigation Reform Act of 1995, which is based on
Community's current expectations, estimates, and projections about
future events and financial trends affecting the financial
condition of its business. These statements are not historical
facts or guarantees of future performance, events, or results. Such
statements involve potential risks and uncertainties and,
accordingly, actual performance results may differ materially.
Community undertakes no obligation to publicly update or revise
forward looking information, whether as a result of new, updated
information, future events or otherwise. DATASOURCE: Community
Banks, Inc. CONTACT: Jennifer Clippinger, CommunityBanks,
+1-717-920-5838 Web site: http://www.communitybanks.com/
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