MARTINSVILLE, Va.--(BUSINESS WIRE)--
Carter Bank & Trust (OTC:CARE) announced today that it has entered into
an agreement with Highlands Community Bank to acquire its Hot Springs
branch in Bath County, Va.
Carter Bank & Trust’s Hot Springs branch will become one of Highlands
Community Bank’s three branches’ serving Bath and Alleghany counties.
“In 2006, when we merged 10 banks in Virginia and North Carolina into
Carter Bank & Trust, it included a branch in Hot Springs, which is
outside of our service area. Our closest branch to Hot Springs is an
hour and a half away,” said Phyllis Q. Karavatakis, Carter Bank &
Trust’s president and chief banking officer.
“While our Hot Springs branch performs well in deposits and lobby
traffic, we felt that selling this branch to Highland Community Bank was
consistent with our current strategy of focusing our resources in our
traditional service area,” she said.
This agreement is subject to regulatory approvals and expected to be
completed in the second quarter of 2018.
Headquartered in Martinsville, Va., Carter Bank & Trust has 122 branches
across Virginia and North Carolina.
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Carter Bank & Trust
Kim Adkins
Vice President & Director
of Marketing
276-336-4384 (direct)
276-252-2679 (cell)
Source: Carter Bank & Trust