Capital Community Bank (CCBank), a community bank in Utah, has acquired Security Home Mortgage (SHM), a provider of home mortgage solutions in Utah since 1999.
Terms of the deal were not divulged.
The 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.
The acquisition of SHM will enable CCBank 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,” says Matt Field, president and CFO of CCBank, in a release. “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.”
“Looking ahead, we are excited about the opportunities this acquisition presents,” says Jon Chamberlain, president of SHM. “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.”
“This acquisition will be seamless for all involved, and we expect no impact on SHM’s customers or personnel,” Field adds. “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.”
Photo: Edge2Edge Media