CAPITAL COMMUNITY BANK ANNOUNCES THE ACQUISITION OF SECURITY HOME MORTGAGE

PROVO, Utah, May 3, 2024 /PRNewswire/ -- Capital Community Bank (CCBank), a leader in Utah community banking, is excited to announce the successful acquisition of Security Home Mortgage (SHM), a well-respected provider of home mortgage solutions since 1999. This landmark deal marks a significant milestone in CCBank's growth strategy, expanding its portfolio of financial services and reaffirming its commitment to fostering the financial well-being of the communities it serves. The business combination results in SHM becoming an independently operated subsidiary division of CCBank. 

Better Together
This acquisition of SHM is a testament to CCBank's strategic vision to offer a comprehensive suite of financial products that cater to the evolving needs of its customers and community. By integrating SHM's expertise in home mortgages with CCBank's robust banking solutions, customers can look forward to a one-stop, locally-owned financial hub offering unmatched convenience and excellence in service. 

"Today, we bring together two established Utah companies to better serve our clients in the financial services space," said Matt Field, CCBank's President & CFO. "CCBank and Security Home Mortgage are well-established Utah companies, and this partnership enables us to strengthen our market position to continue delivering industry-leading financial products, services, and home mortgages to our friends, families, and neighbors who entrust us with their financial well-being."

This acquisition reflects a shared vision between CCBank and SHM of empowering individuals and businesses to achieve their financial goals, fostering economic growth, and contributing to the prosperity of the communities these companies serve. Together, CCBank and SHM are poised to make a more significant impact, offering enhanced financial stability and support to customers while jointly exploring new products and offerings.

"Looking ahead, we are excited about the opportunities this acquisition presents. We are dedicated to leveraging the combined strengths of CCBank and SHM to innovate and enhance our product and service offerings, ensuring we remain at the forefront of the banking and mortgage industries to meet the diverse needs of our customers, partners, and personnel," explained Jon Chamberlain, President of SHM.

Continued Commitment to Excellence
CCBank and SHM are committed to a seamless transition of the business combination, ensuring that existing customers continue receiving exceptional service without interruption. As a result of this business combination, SHM customers will gain access to CCBank's comprehensive array of commercial and personal lending and deposit products. 

"This acquisition will be seamless for all involved, and we expect no impact on SHM's customers or personnel. We will maintain the excellent infrastructure SHM has in place and welcome all SHM personnel to the CCBank family with Jon Chamberlain and Charlie Green continuing their leadership of SHM—with Chamberlain continuing his role as President of SHM," said Field. 

About CCBank

Founded in 1993, CCBank is a community-focused financial institution with branch offices located in Salem, Provo, Orem, Pleasant Grove, Sandy, and St. George to serve the banking needs of Utah residents and businesses. The bank prides itself on being a longstanding community bank focused on Utah communities' financial and social health through its industry-leading rates, personalized service, financial technology, and quick decisions made at the local level. The bank concluded 2023 with approximately $871 million of total assets and $127 million of equity capital. CCBank is an Equal Housing Lender | Member FDIC. Online: https://ccbank.com

About Security Home Mortgage

Security Home Mortgage, a locally-owned mortgage lender, was founded in 1999 by Jon Chamberlain and is known for being dependable and catering to every client's needs. A majority of the company's business comes from repeat or referral customers, a testament to the trust and credibility SHM instills into each loan closed. Locally-owned and operated, SHM employs over 90 mortgage lending experts and uses industry-best technology. From pre-qualification to application and closing, each loan stays in-house, providing a seamless and quick experience for every customer. Online: https://securityhomemortgage.com/

For further information, please contact:

Lee Lamb, Vice President – Marketing & Brand
Cell: (801) 330-1192
[email protected]

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SOURCE Capital Community Bank