INTEROFFICE MEMORANDUM
TO: [ALL EMPLOYEES]
FROM: [NAME]
DATE: [ ]
SUBJECT: [ ]
[Eastern Ridge Community Bank] has served individual and business customers in our region for many years and always has earned a profit for shareholders. Most of our shareholders have owned bank stock for years, in some cases even inheriting it from the preceding generation. Many shareholders and directors now have reached retirement age.
At a meeting last night they voted to accept an offer to sell this bank to [Constitutional Community Bancorporation]. The sale, of course, is pending regulatory approval. We expect it to be finalized by mid year.
[Constitutional Community] is well known nationally for a policy of permitting its banks to operate independently, retaining local boards of directors and management. Except for the change in ownership, little else about the bank will change in the near future.
[Eastern Ridge] likely will take advantage of [Constitutional Community’s] data processing and other centralized services instead of outsourcing these to other state vendors. Our staff, products, and services, however, will remain virtually unchanged.
