Tuesday, September 17, 2019

First Commerce CU to Acquire Georgia Bank

First Commerce Credit Union (Tallahassee, FL) announced on September 16 that it would purchase and assume certain assets and liabilities of The Citizens Bank (Nashville, GA).

The purchase has been approved by the boards of directors of both institutions and is expected to close in the second quarter of 2020, subject to customary closing conditions and shareholder and regulatory approvals.

First Commerce CU has $620 million in assets.

The Citizens Bank has $248 million in assets and $212 million in deposits and almost 15,000 customers. The bank has 4 offices -- 2 in Berrien County and 1 each in Cook and Lowndes Counties.

The price of the transaction was not disclosed.

Read more.

Read FAQ.
Posted by at
Labels: ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.