Serving the Vermont Champlain Valley Area for 45 Years
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Tuesday December 18, 2007 Edition
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Top Stories for Tuesday December 18, 2007
Community Bancorp Lyndonbank And National Bank Of Middlebury Announce Execution Of Agreement For Branch Sale Community Bancorp. (OTCBB: CMTV), the holding company for Community National Bank (“Community National”), LyndonBank (Pink Sheets: LYSB) and National Bank of Middlebury (“Middlebury”), announced on December 10, 2007 that they have signed a definitive Purchase and Assumption Agreement for the purchase by Middlebury of the Vergennes branch office of LyndonBank immediately following completion of the planned merger of LyndonBank with and into Community National. The parties expect these transactions to close on or about December 31, 2007. Under the terms of the Purchase and Assumption Agreement, Middlebury will assume all of the deposits booked at LyndonBank's Vergennes branch and will purchase certain branch loans and fixed assets, including the real estate. The Agreement contains customary representations, warranties, covenants and conditions to closing. As of October 22, 2007, there were approximately $9.7 million in deposits booked to the Vergennes branch. The parties had signed a letter of intent in early October outlining the material terms of the transaction. [ more ] Tim Hanson 2007 Recipient Of The Jane Gardner Award by Deborah Foster Addison County Home Health and Hospice announced that Tim Hanson of Ripton was the 2007 recipient of the Jane Gardner award for clinical excellence. Three new board members were also elected at the annual meeting and recognition night held recently at the Vergennes Opera House. “It gives me enormous pleasure to be able to present this years' Jane Gardner Award” said Michele Hadeka, RN, Quality Assurance Coordinator at the agency. The clinical staff recognizes the vital role Tim plays in providing coverage and clinical visits with patients of every age,” said Hadeka, in making the presentation to Hanson who has been a nurse with the agency for 25 years and coordinating weekend patient care for the local home health agency for the last seven years. Hadaka noted in her remarks that Tim Hanson had been her student during her first year as an assistant professor of nursing at the University of Vermont. [ more ]
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