DLP Bancshares of St. Augustine announced that it has acquired Community State Bank in Starke. DLP Bancshares is a holding company owned by a consortium of private investors, including Don Wenner, CEO of the real estate investment and financial services firm DLP Capital.
DLP Bankshares said in a news release that following the acquisition, it made a significant capital contribution into Community State Bank to increase the bank’s lending limit, support its balance sheet objectives, including loan growth, enhance the range of services offered to its customers, and steward and safeguard the bank’s operations, augmenting a strong system of internal controls, systems, and policies.
“Community State Bank is a tremendous asset to its community, and we have plans to honor its rich history of quality and client service while at the same time contributing additional capital to position the bank for growth,” said Don Wenner, Founder & CEO of DLP Capital and the lead investor in DLP Bancshares. “We are excited to welcome all the employees of the bank to our DLP family while installing an exceptional board of directors to oversee the bank’s future success.”
More on this story later from the Telegraph-Times-Monitor
