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|Press Release: Stroh Family Private Bank to Merge into Community
February 16 2005, 2:00am EST
MOUNT CLEMENS, Mich., Feb. 16 — Community Central Bank Corporation announced today that it has signed a definitive agreement to acquire River Place Financial Corp. Following the acquisition, River Place Financial Corp. will be merged into Community Central Bank, CCBD's wholly owned subsidiary. Stockholders of River Place may elect to receive cash or stock of CCBD, with the requirement that at least 80% of the total consideration be paid in CCBD common stock.
River Place Financial Corp. is a private bank wholly owned by the descendants of Julius Stroh, founder of The Stroh Brewery Company. River Place Financial was established in 1983 to manage the private banking and trust needs of the Stroh family; and trusts managed by its trust department owned and controlled Stroh Brewery until its sale in 1999. Since the sale of Stroh Brewery, River Place Financial's trust department has ...