Greater Florence Chamber of Commerce issued the following announcement on February 9.
Sandhills Bank will merge into The Citizens Bank, the banks’ holding companies announced Monday, January 31st.
Citizens Bancshares Corp. is the holding company for The Citizens Bank. Sandhills Holding Co. Inc. is the holding company for Sandhills Bank.
Sandhills Bank will merge into The Citizens Bank and Citizens Bancshares Corp. in an all-cash transaction. The combined company is expected to have more than $1 billion in total assets, including more than $500 million in total loans and nearly $900 million in total deposits as of Dec. 31. The transaction is expected to occur early in third quarter 2022. It is subject to regulatory approval and approval by Sandhills Holding Co. Inc. shareholders.
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Original source can be found here.
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