ACBB Expands Advisory Offerings with Acquisition of Shatswell MacLeod
Camp Hill, PA May 7, 2024 – Atlantic Community Bankers Bank (ACBB) is excited to announce the acquisition of Shatswell MacLeod, a premier provider of internal audit and regulatory compliance services for financial institutions across the Northeast.
Set to be closed on June 1, 2024, this strategic alliance reinforces ACBB’s mission to help financial institutions compete in today’s marketplace and better serve their customers and communities. ACBB’s clients will have access to expanded risk and compliance service offerings while Shatswell MacLeod’s clients will be able to take advantage of ACBB’s full range of correspondent banking solutions.
Founded in 1983, ACBB is one of only 12 cooperative bankers’ banks in the United States. Owned and governed by the community financial institutions they serve, ACBB delivers innovative advisory, lending, and payment solutions to over 400 partners across 14 states. With perspective gained from consultations with numerous institutions, their advisory team offers due diligence, stress test, and credit services that complement Shatswell MacLeod’s areas of expertise.
Craig Howie, President & Chief Executive Officer, ACBB, says, “One of our core values is to lead with integrity, and that’s precisely what Shatswell MacLeod has done for over a century. Their dedication to advancing the community banking market segment with the highest standards of ethics and personal service makes their team an ideal cultural fit for our collaborative network. Additionally, their skillsets will round out our suite of solutions and further our vision of being the definitive partner for each financial institution we serve.”
The Kafafian Group, Inc. acted as financial advisor to ACBB. Stevens & Lee served as legal counsel to ACBB.