May 25, 2012

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Cache Valley Bank Acquires Three Village Bank Branches

Press Release

May 25, 2012

The Village Bank and Cache Valley Bank, headquartered in Logan, Utah, entered into an agreement on May 24, 2012 in which Cache Valley Bank acquired the Sunset Office, the River Road Office and the Cotton Mill Office of The Village Bank. The three branches now operate under the Cache Valley Bank name with the existing branch leadership teams.

The Village Bank determined that the best way to meet the changing regulatory requirements was to reduce the size of the bank, while maintaining a significant presence in St. George. Cache Valley Bank was selected as a partner because they share the same vision of community banking built on the tradition of customer relationships and quality service.

“We believe this transaction is in the best interest of our shareholders, customers and the communities we serve,” said Douglas Bringhurst, The Village Bank’s president. “The Village Bank will continue to offer a full service menu and maintain the same values that have made the bank the community bank leader in our market.”

The Village Bank will remain a full service community bank operating from the main office location at 294 E. Tabernacle. President Bringhurst pledges to continue to offer the same quality service that has been a trademark for the community bank leader in St. George.

Cache Valley Bank is a highly rated bank that has been built on loyal employees that take pride in providing personal service to each of its customers.  “We welcome the opportunity to work with the employees and to serve the customers that have come to us with this transaction,” said Gregg Miller, president of the Cache Valley Bank.

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