Parkway Acquisition, the parent company of Skyline National Bank, and Great State Bank have announced that their shareholders have voted in favour of merger of both banks.

Nearly 82 shareholders voted in favour of merger.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Earlier in March, Parkway reached an agreement to buy Great State Bank in a stock transaction valued at approximately $14.5m.

Great State will operate as a division of Skyline National Bank until operating systems are converted and the Great State offices are renamed as Skyline National Bank in September 2018.

Parkway senior executive vice president and CFO Blake Edwards said: “With the receipt of shareholder approvals needed to proceed with the combination, we expect to legally complete the merger on July 1, 2018, subject to customary closing conditions.

“Shareholders of Great State then will receive important mailings about the exchange of their shares of Great State stock into Parkway stock.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Skyline  and Parkway president and CEO Allan Funk said: “Our customers will be kept informed of progress on the integration of our two banks.  In the meantime, it’s business as usual for our employees and customers as we strive to be the best bank in our market areas.

“We know that customers prefer a locally-owned and locally-managed bank, and we want to be the bank of choice for those customers that prefer the personal experience of local banking and service that is Always Our Best.”

The combined business will manage 20 bank branches, and will own assets of almost $700m, deposits of over $600m and shareholders’ equity of over $70m.