Thomas D. Will, Chairman of Community Bancshares, Inc. and its principal subsidiary Vinton County National Bank, announced that the acquisition of The Citizens Bank of Ashville, Ashville, Ohio, was completed effective at the close of business on Friday November 14, 2014. The Ashville, Circleville, Grove City and Commercial Point offices of The Citizens Bank of Ashville have become branches of Vinton County National Bank (VCNB).
Will said he is pleased the transaction is complete and is eager to welcome the employees and customers of Citizens to the VCNB family. “We are very pleased that we have completed our transaction with The Citizens Bank of Ashville. We appreciate the efforts put forth by the officers, employees and board members at Citizens to help facilitate the transaction and we look forward to continuing to serve the communities that have been served by Citizens,” he said.
Founded in 1867, VCNB is a community bank that takes pride in adopting community identities everywhere they do business. The Ashville, Circleville and Commercial Point offices will operate under the name Pickaway County Banking Center. The Grove City office will be called Franklin County Banking Center. VCNB is known for lending community support and for substantial volunteerism efforts among employees. Will indicated that employees in the new offices are eager to adopt this VCNB spirit.
Community Bancshares, Inc. is a bank holding company headquartered in McArthur, Ohio, with total assets after the merger of approximately $870 million and shareholders’ equity of $100 million. Vinton County National Bank now operates 17 offices in Vinton, Ross, Hocking, Fairfield, Licking, Pickaway and Franklin counties.