Provo, Utah-headquartered Capital Community Bank (CCBank) has acquired Security Home Mortgage (SHM), based in Orem, Utah.
The financial terms of the deal were not disclosed. SMH was founded in 1999 and will become an independently operated subsidiary division of CCBank, which has approximately $871 million of total assets and $127 million of equity capital.
“Today, we bring together two established Utah companies to better serve our clients in the financial services space,” said Matt Field, CCBank’s president and chief financial officer. “CCBank and Security Home Mortgage are well-established Utah companies, and 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.”
“Looking ahead, we are excited about the opportunities this acquisition presents. We are dedicated to leveraging the combined strengths of CCBank and SHM to innovate and enhance our product and service offerings, ensuring we remain at the forefront of the banking and mortgage industries to meet the diverse needs of our customers, partners, and personnel,” added Jon Chamberlain, President of SHM.
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