Cumberland County Bank sells branch to New York company

0

A Camp Hill financial institution that provides banking services to banks sold a subsidiary.

Atlantic Community Bankers Bank, which provides correspondence banking, lending, investing and cash management services to community financial institutions, sold ACBB-Bits LLC, the subsidiary of the bank’s telecommunications and network service provider. , at New Era Technology Inc.

“This sale will allow us to focus more on our core correspondent banking competence and fuel the next phase of our mission to be the premier partner of community financial institutions,” said Craig Howie, President and CEO. management of Atlantic Community Bankers Bank in a statement. Release.

New Era provides managed services, cloud solutions and professional services to more than 8,500 clients in financial services, healthcare, technology and many other markets. The company is headquartered in New York City and has approximately 2,100 employees across the United States, United Kingdom, Australia, New Zealand, Canada, Europe and Asia. The company has forty-eight offices.

Atlantic Community Bankers Bank was established in 1983.

The transaction closed on August 26. Terms of the deal were not disclosed.

Business buzz

You can follow Daniel Urie on twitter @ DanielUrie2018 and you can like it on Facebook.



Source link

Leave A Reply

Your email address will not be published.