PROVO, Utah, May 3, 2024 /PRNewswire/ -- Capital Community
Bank (CCBank), a leader in Utah
community banking, is excited to announce the successful
acquisition of Security Home Mortgage (SHM), a well-respected
provider of home mortgage solutions since 1999. This landmark deal
marks a significant milestone in CCBank's growth strategy,
expanding its portfolio of financial services and reaffirming its
commitment to fostering the financial well-being of the
communities it serves. The business combination results in SHM
becoming an independently operated subsidiary division of
CCBank.
Better Together
This acquisition of SHM is a testament
to CCBank's strategic vision to offer a comprehensive suite of
financial products that cater to the evolving needs of its
customers and community. By integrating SHM's expertise in home
mortgages with CCBank's robust banking solutions, customers can
look forward to a one-stop, locally-owned financial hub offering
unmatched convenience and excellence in service.
"Today, we bring together two established Utah companies to better serve our clients in
the financial services space," said Matt
Field, CCBank's President & CFO. "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."
This acquisition reflects a shared vision between CCBank and SHM
of empowering individuals and businesses to achieve their financial
goals, fostering economic growth, and contributing to the
prosperity of the communities these companies serve. Together,
CCBank and SHM are poised to make a more significant impact,
offering enhanced financial stability and support to customers
while jointly exploring new products and offerings.
"Looking ahead, we are excited about the opportunities this
acquisition presents. 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," explained Jon Chamberlain, President of SHM.
Continued Commitment to Excellence
CCBank and SHM are
committed to a seamless transition of the business combination,
ensuring that existing customers continue receiving exceptional
service without interruption. As a result of this business
combination, SHM customers will gain access to CCBank's
comprehensive array of commercial and personal lending and deposit
products.
"This acquisition will be seamless for all involved, and we
expect no impact on SHM's customers or personnel. 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," said
Field.
About CCBank
Founded in 1993, CCBank is a community-focused financial
institution with branch offices located in Salem, Provo,
Orem, Pleasant Grove, Sandy, and St.
George to serve the banking needs of Utah residents and businesses. The bank prides
itself on being a longstanding community bank focused on
Utah communities' financial and
social health through its industry-leading rates, personalized
service, financial technology, and quick decisions made at the
local level. The bank concluded 2023 with approximately
$871 million of total assets and
$127 million of equity capital.
CCBank is an Equal Housing Lender | Member FDIC. Online:
https://ccbank.com
About Security Home Mortgage
Security Home Mortgage, a locally-owned mortgage lender, was
founded in 1999 by Jon Chamberlain
and is known for being dependable and catering to every client's
needs. A majority of the company's business comes from repeat or
referral customers, a testament to the trust and credibility SHM
instills into each loan closed. Locally-owned and operated, SHM
employs over 90 mortgage lending experts and uses industry-best
technology. From pre-qualification to application and closing, each
loan stays in-house, providing a seamless and quick experience for
every customer. Online: https://securityhomemortgage.com/
For further information, please contact:
Lee Lamb, Vice President –
Marketing & Brand
Cell: (801) 330-1192
Lee.Lamb@CCBank.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/capital-community-bank-announces-the-acquisition-of-security-home-mortgage-302136020.html
SOURCE Capital Community Bank