PLAN OF MERGER AND MERGER AGREEMENT Vision Bank [Gulf Shores, Alabama]Plan of Merger and Merger Agreement • August 7th, 2007 • Park National Corp /Oh/ • National commercial banks
This AGREEMENT made between Vision Bank (hereinafter referred to as “Vision Bank (AL)”) a financial institution organized under the laws of the State of Alabama, with its main office located at 2201 West 1st St., Gulf Shores, County of Baldwin, in the State of Alabama 36542, (* and 7 branch offices and no trust service offices, with Total Capital Accounts of $75,000, divided into 75,000 shares of Capital Stock, each with $1.00 par value, Surplus of $26,875,000, and Undivided Profits or Retained Earnings of $15,213,944 as of December 31, 2006, and Vision Bank (hereinafter referred as “Vision Bank (FL)”), a financial institution organized under the laws of the State of Florida, with its main office located at 2200 Stanford Road, Panama City, County of Bay, in the State of Florida, 32405. (*and 8 branch offices and no trust service offices, with Total Capital Accounts of $116,000, divided into 23,200 shares of Capital Stock, each with $5.00 par value, Surplus of $22,660,588, and Undivided
