Rick Patrick
rick@greenepublishing.com
It was announced on Tuesday, Aug. 25, that Madison County Community Bank plans to join Gulf Winds Credit Union. In a press release, it was stated that “Madison County Community Bank (MCCB), headquartered in Madison, its parent holding company, Madison Community Bancshares Corporation, headquartered in Madison and Gulf Winds jointly announced today that they have entered into a definitive agreement pursuant to which Gulf Winds will acquire MCCB (the proposed “Transaction”), bringing together two community-focused financial institutions with a shared commitment to trusted relationships, local service, and long-term philanthropic impact.”
“Madison County Community Bank was founded on a simple belief: people deserve a bank they know and trust,” said D. Edward Meggs, Sr., President and CEO of Madison County Community Bank. “That belief remains at the heart of this decision. TruWorth Credit Union will allow us to carry the best of Madison County Community Bank forward while combining our strengths with Gulf Winds’ strengths to create something even bigger for the future. This is not about leaving our history behind. It is about honoring it by building upon it.”
The transaction still must be approved by Madison Community Bancshares Corporation shareholders, receive approval from regulatory agencies and fulfill of “all customary closing conditions.”
Final regulatory approval is expected in mid-2027. The two organizations are expected to be fully integrated by the beginning of 2028.
Madison County Community Bank is a locally owned, community-focused bank, established in 1999 by a group of local residents in Madison County, with the mission of serving the banking and financial needs of local citizens and businesses. Since then, the Madison County Community Bank has expanded and operates two branch locations in Madison and Perry, Fla. Madison Community Bancshares Corporation is the bank holding company that owns Madison County Community Bank, which is FDIC-insured and operates as a Florida state-chartered bank. For additional information about Madison County Community Bank, visit mccbflorida.com.