"We are extremely excited about finalizing the merger with Bank of Manhattan," said Gene Galloway, President and Chief Executive Officer of Plaza Bank.
"With a talented team of bankers, Bank of Manhattan brings a strong portfolio of similar clients and unique capabilities that will enable us to better serve more small businesses in a wider geographic area. The joining of these two like-minded banks creates an even more robust banking experience for both existing and new clients."
Chairman of the Board of Directors for Plaza Bank, Tom Rogers, remarked, "We are excited that the new Plaza Bank will have enhanced resources to serve its clients, provide greater opportunity for our employees and as a result, create greater shareholder value."
Added Rick Sowers, former President and Chief Operating Officer of Bank of Manhattan, "This merger is ideal for our clients, who will benefit from the enhanced management expertise, capital strength, product offerings, and responsive personal service to which both banks are deeply committed. It also presents greater opportunities for our employees as they develop their careers with an even stronger, growth-oriented bank."
Mr. Galloway will continue to serve as President and Chief Executive Officer of the combined bank and Mr. Sowers will join the Plaza Bank executive team as Chief Strategy Officer.
"We expect a seamless transition for our clients and our employees while we grow our combined business," added Galloway. "This merger will allow us to continue to grow while expanding our offering of products and services."
