Posted on: May 23, 2019

Dear Valued Customer,

As you may have already read, we have some exciting times ahead of us.  On January 22, 2019, the American Savings Bank (“ASB”) Board of Directors entered into an Agreement to merge into Valley Central MHC, the mutual holding company for Valley Central Bank (“VCB”).  The merger is expected to close during the 3rd quarter of 2019, subject to regulatory and ASB member approval.  At that time, all banking office of American Savings Bank will become branches of Valley Central Bank.  

What Happens Next?

Please continue to bank as you currently do.  Our specialized teams are working to bring our banks together and to automatically transition all accounts to the same platform.  You should be receiving, in approximately 6 weeks, a proxy card, proxy statement and merger agreement. 

Your vote is very important regardless of the number of shares you own.  You will be able to complete the proxy card and mail in a self-addressed, postage paid envelope, vote online or secure a proxy card from the branch and vote.  We cannot complete the merger unless our members approve the Merger proposal.  This Merger has the approval of our Board of Directors and executive management.

As always, we appreciate your business and look forward to continuing to provide you with the personal service you enjoy today. 

If you have any questions, please feel free to contact Fred DeBiasi at 513-422-6324