Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Chittenden completes acquisition of Community Bank & Trust Company

Chittenden Corporation, a bank holding company, has announced that it has completed its acquisition of Community Bank & Trust Company.

Chittenden issued an aggregate of approximately 3.1 million shares of Chittenden common stock and paid approximately $30.9 million in cash for all outstanding shares of Community Bank.

Paul Perrault, Chittenden’s chairman, president and CEO, said: We are delighted to welcome Community Bank’s customers and employees into Ocean Bank, one of Chittenden’s family of banks. Their legacy of superb customer service will fit nicely into our culture, and result in great opportunities for them both.