TriSummit Bank and Community National Bank of the Lakeway Announce Definitive Agreement
Kingsport, Tenn., Jan. 14, 2014 – TriSummit Bank and Community National Bank of the Lakeway Area ("Community National Bank") jointly announced today the signing of a definitive agreement providing for TriSummit Bank's acquisition of Community National Bank (OTCBB:CNLA). At September 30, 2013, Community National Bank had total assets of $107 million. The transaction will expand TriSummit Bank's footprint to seven financial centers – four in the Tri-Cities, two in Morristown and one in Jefferson City, Tenn. more
Internet Gambling Notification
The Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 prohibits any person engaged in the business of betting or wagering, as defined in the Act, from knowingly accepting payments in connection with the participation of another person in unlawful Internet gambling. The Department of Treasury and the Federal Reserve Board have issued a joint final rule, Regulation GG, to implement this Act.
As defined in Regulation GG, unlawful Internet gambling means to "..place, receive or otherwise knowingly transmit a bet or wager by any means which involves the use, at least in part, of the Internet where such bet or wager is unlawful under any applicable Federal or State law or tribal lands in which the bet or wager is initiated, received or otherwise made".
Please be advised that as a customer of Community National Bank of the Lakeway Area, unlawful Internet gambling transactions are prohibited from being processed through your account or banking relationship with us.
Community National Bank of the Lakeway Area will not open accounts for customers engaged in any Internet Gambling Business, including legal Internet gambling businesses. In the event the Bank receives actual knowledge that the Bank's commercial customer is engaged in an Internet Gambling Business, Bank's management will close the commercial customer's account.
Please contact our customer service representatives at Community National Bank of the Lakeway Area, P. O. Box 1919, Morristown, TN 37816, or call 1-877-587-2343 if you would like additional information on UIGEA or Regulation GG.