State Bank Corp., the holding company for Mohave State Bank, has announced that it completed the acquisition of Country Bank, which was merged with and into Mohave State Bank on July 31, 2016.
As of the closing date, the combined company has 9 branches and approximately $560 million in total assets, and is the largest community bank headquartered in Arizona.
“We are pleased to announce the completion of the merger and to welcome Country Bank’s shareholders, customers and employees to Mohave State Bank,” stated Brian M. Riley, President and Chief Executive Officer of State Bank Corp. and Mohave State Bank. “This is a strategic combination and we are excited to bring together two well respected community banks with similar philosophies and cultures.”
“This expands our geographic footprint into Yavapai County with Country Bank’s branches in Prescott, Prescott Valley and Cottonwood. We continue to be focused on building the premier community banking franchise in Arizona, and we believe, with this combination, the bank will be even better positioned to grow, serve our customers and create strong returns for our shareholders,” Riley said.