ACB board approves merger plan with ABA

Northwestern Financial Review, Oct 15-Oct 31, 2007

America's Community Bankers board of directors voted unanimously on Sept. 14 to approve the group's proposed merger with the American Bankers Association. The merger now goes before ABA and ACB members for a vote. ABA members will vote on the proposal on October 9 during their convention in San Diego.

ACB members will vote on the deal on October 16. If both memberships approve, the merger is effective on December 1. The merged group will keep the American Bankers Association name and, when combined, will represent 95 percent of the assets of the nation's $11.5 trillion banking industry.