Bank Of McKenney Shareholders Approve Merger With CCB Bankshares

11/6/17

Bank of McKenney shareholders have approved its proposed merger with CCB Bankshares Inc., the parent company of Citizens Community Bank.

When the merger is completed, Bank of McKenney will change its name to Touchstone Bank.

Subject to customary closing conditions, the merger is expected to occur after the close of business on Nov. 10. The combined bank will open as Touchstone Bank on Nov. 13.

Bank of McKenney shareholders owning a total of 1.28 million shares voted on the merger at a meeting on Thursday. A total of 1.22 million shares, 95.7 percent of the votes cast, favored the merger, while 55,075 shares voted against the merger and 3,654 shares abstained.

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