Centennial Bank, Vision Bankcard join

(Deseret News) Ogden-based Centennial Bank and Orem-based Vision Bankcard on Wednesday announced a joint venture in which the controlling interests of Vision Bankcard are acquiring the controlling interests of Centennial.

Financial terms were not disclosed. The change of control of Centennial Bank is subject to approval from federal and state bank regulators.

The companies said the association will "significantly improve Centennial's capital position, financial ratios and opportunities for growth." The companies' management and employees will be retained and operations will continue under their current names.

Vision Bankcard provides payment technology and services to about 10,000 retail and e-commerce merchants worldwide. Centennial Bank operates two branches in Davis County, one office in Salt Lake County and one office in Utah County.

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