American National Bank and Trust Company Celebrates 103rd Anniversary, Name Change of MidCarolina Bank
Through its merger with MidCarolina Bank, American National Bank and Trust Company
now serves customers through 25 offices in Central and Southside Virginia and Piedmont North Carolina.
For more information, contact:
|Jeffrey V. Haley
President & CEO
American National Bank and Trust Company
|Charles T. Canaday, Jr.
EVP & President, North Carolina Banking
American National Bank and Trust Company
FOR IMMEDIATE RELEASE: February 17, 2012
DANVILLE, VA – American National Bank and Trust Company ("American National" or "the Bank"), the subsidiary bank of the holding company American National Bankshares Inc. (NASDAQ: AMNB) (the "Company"), announced that MidCarolina Bank's ("MidCarolina") operating name has been changed to American National Bank and Trust Company, effective today. The eight former MidCarolina offices across northcentral North Carolina were acquired through the Company's merger with MidCarolina Financial Corporation on July 1, 2011. The Bank also celebrates its 103rd anniversary today.
"Today marks a truly celebratory occasion for our community bank," said Jeffrey V. Haley, President & Chief Executive Officer of American National. "Not only are we excited about our 103rd anniversary, but we look forward to beginning this 104th year with our newly renamed MidCarolina offices. This merger supports our strategy to become a 21st century bank. Additionally, we are very pleased to count on local decision makers like Charles Canaday, who after serving as MidCarolina's President & CEO has continued to lead our efforts in the Piedmont area as President of North Carolina Banking."
The former MidCarolina offices' integration with American National was completed today, marked by the name change and the conversion of MidCarolina customers to a new, state-of-the-art bank operating system that offers high-demand, modern technology transaction options. Due to the transition, which takes place Feb. 17-21, Online Banking is temporarily unavailable until the completion of the conversion process on Tuesday, Feb. 21.
American National's merger with MidCarolina began on July 1, 2011, with the acquisition by American National Bankshares Inc. The Company expanded its presence along the Burlington/Greensboro corridor in North Carolina through the all stock merger transaction with MidCarolina Financial Corporation, valued at $34.7 million and resulting in the Company having total assets of approximately $1.3 billion. The eight MidCarolina banking offices in Alamance and Guilford counties continued operating under the MidCarolina Bank name as a division of American National until today when the operating name changed to American National Bank and Trust Company.
"Our offices are very pleased to be part of American National, a community bank with more than a century of experience and stability," said Charles Canaday, President of North Carolina Banking for American National and former President & Chief Executive Officer of MidCarolina Bank. "Our primary goal, first and foremost, is to serve our customers with the attention they need and deserve to make this transition as smooth and efficient as possible. We also look forward to continuing our active community partnerships as American National, a bank known for its commitment to the communities it serves."
About American National
American National Bankshares Inc. is a multi-state bank holding company with total assets of approximately $1.3 billion following completion of the MidCarolina merger. Headquartered in Danville, Va., American National Bankshares Inc. is the parent company of American National Bank and Trust Company. American National is a community bank serving southern and central Virginia and northcentral North Carolina with 25 banking offices. The Bank also manages an additional $532 million of trust, investment and brokerage assets in its Trust & Investment Services Division. Additional information about the company and the bank is available on the bank's website at www.amnb.com.
Shares of American National Bankshares Inc. are traded on the NASDAQ Global Select Market under the symbol "AMNB."
This press release contains "forward-looking statements" within the meaning of federal securities laws. Certain of the statements involve significant risks and uncertainties. The statements herein are based on certain assumptions and analyses by American National and are factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: changes in interest rates; changes in accounting principles, policies or guidelines; significant changes in the economic scenario; significant changes in regulatory requirements; significant changes in securities markets; and changes regarding acquisitions and dispositions. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language in American National's most recent Form 10-K report and other documents filed with the Securities and Exchange Commission. American National Bankshares Inc. does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.