ACBB Expands Risk and Compliance Offerings with Acquisition of Shatswell MacLeod

May 7, 2024

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.

In business since 1903, Shatswell MacLeod has built a sterling reputation for its select services tailored to community banks and credit unions, including internal audit, compliance audit, information technology, and Bank Secrecy Act services, as well as related consulting, monitoring, and support. Their team comprises 37 professionals with extensive experience in specialized audit, compliance, finance, and credit functions.

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 lending, payments, and risk and compliance solutions to over 400 partners across 14 states. With perspective gained from consultations with numerous institutions, their  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.”

Thomas J. Jendrysik, CPA, President, Shatswell MacLeod, adds, “Client relationships have been the lifeblood of our success, and I am more than confident that the relationships we have built over the decades will continue to flourish with ACBB’s collective governance and resources. Our long legacy of adding value and providing trusted counsel will be sustained and strengthened as we become an integral part of ACBB’s growing network, and our current clients will benefit from an expanded array of services and opportunities.”

The Kafafian Group, Inc. acted as financial advisor to ACBB. Stevens & Lee served as legal counsel to ACBB. McLane & McLane, LLC served as legal counsel to Shatswell MacLeod.

CONTACT:
Joseph Krzywicki
Chief Banking Officer
jkrzywicki@acbb.com

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