HAGATNA, Guam—BankGuam Holding Company and ASC Trust LLC have exercised the second of three share purchase transactions, bringing BankGuam Holding Company’s ownership to 45% of ASC’s outstanding common stock, as agreed upon according to the terms of their May 27, 2016 Stock Purchase Agreement.
ASC Trust’s operations will continue as usual, functioning under the name ASC Trust LLC with the same management team and the headquarters remaining in their newly renovated office in Hagatna.
Joaquin P.L.G. Cook, vice chairman of BankGuam Holding Company, stated “The advantages for both organizations are clear in the ability to offer improved services and product offerings. We look forward to our continuing work with David John and the team at ASC, to further our combined mission to provide the highest level of service our community and our region.” (PR)