Saturday, November 11, 2017

Georgia's Own CU to Acquire State Bank of Georgia

Credit Union Journal is reporting that $2.3 billion Georgia's Own Credit Union (Atlanta, GA) has entered into a definitive agreement to acquire State Bank of Georgia (Fayetteville, GA).

The deal was approved by both boards and will be structured as an asset purchase.

State Bank of Georgia had $90.1 million in assets, as of its most recent Call Report.

The transaction is expected to close during the second quarter of 2018.

Read the story (subscription required).
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