Capac Bancorp, Inc. Merges into County Bank Corp
LAPEER, MI. – On September 12, 2016, County Bank Corp (OBTC: CBNC) became a two bank holding company for Lapeer County Bank & Trust Co. and CSB Bank. Lapeer County Bank & Trust Co. (LCBT) and CSB Bank (CSB) will continue to operate separately through December 2, 2016. At that time, an account conversion will take place moving all CSB customers to LCBT. During the merger process, both Banks agreed to change the bank name to Lakestone Bank & Trust.
Customers at LCBT and CSB will receive communication pieces leading up to the December 2, conversion date. Information regarding the merger will also be posted to both banks’ websites.
How was Lakestone Bank & Trust selected? Bruce J. Cady, President and CEO of LCBT said, “There were four objectives in renaming the Bank. First, the name needed to have a regional and community focus. Second, the name needed to be legally, socially and nationally ownable. Third, the name needed to be easy to spell, pronounce and remember. Fourth, the name needed to include Trust to reflect the Bank’s Trust powers, which differentiate us from competitors.” A committee of employees from both Banks worked with a consulting company to review and select potential names. Lakestone is an orginal word that combines Lake + Stone. “Both banks have over a century of history serving our communities, customers, stockholders and employees. This provides our Bank with a strong foundation, similar to stone. Lapeer, a French phrase, literally meaning “the stone,” also played a significant role. Our Bank will now serve Lapeer, St. Clair and Macomb counties. Lakes are a common link between all of these counties,” said Danielle Chateauvert, Business Development Director of LCBT. Mike J. Burke Jr., President and CEO of CSB said, “We are excited to share the new name and logo. The logo that was approved by our board of directors was designed by Gina Delisi, an employee of LCBT. The logo imagery of the lake waves within a Petoskey shaped stone is a visual representation of the name Lakestone.”
Over the coming months LCBT customers will begin to see the Lakestone Bank & Trust name rolled out in phases. The name change to Lakestone Bank & Trust should not cause any disruption in products or services. Customers should continue to use their existing checks, debit cards, online and mobile banking products. “Although the name will be changing, the Bank will continue its long tradition of actively supporting our communities, customers and stockholders,” said Cady. He went on to say, “We welcome LCBT and CSB customers to the Lakestone Bank & Trust family.”
The combined bank will have 14 offices in three counties and approximately $570,000,000 in assets, making it the 16th largest bank in assets and 14th largest in deposits in the state of Michigan.