Capital Community Bank in Provo, Utah, has acquired Security Home Mortgage in Orem, Utah.
The $871 million-asset CCBank said in a press release that the purchase expands its financial services portfolio. SHM will operate as an independent division of the bank.
The price wasn’t disclosed.
“Today, we bring together two established Utah companies to better serve our clients in the financial services space,” Matt Field, CCBank’s president and chief financial officer, said in the release.
“This partnership enables us to strengthen our market position to continue delivering industry-leading financial products, services, and home mortgages to our friends, families, and neighbors who entrust us with their financial well-being,” Field added.
John Chamberlain will remain SHM’s president.