Announced
Completed
Financials
Tags
United States
Single Bidder
Majority
Banks
Public
Acquisition
Friendly
banks
Completed
Synopsis
Reliant, the parent company for Reliant Bank, completed the acquisition of First Advantage, the parent company for First Advantage Bank, for $123m. Based on December 31, 2019 financial data, the combined company had total consolidated assets of approximately $2.9bn, deposits of approximately $2.4bn, and gross loans of approximately $2.2bn. “We are pleased to announce the completion of the First Advantage acquisition and excited about its potential to accelerate our future growth opportunities. First Advantage Bank brings a strong lending team with offices in our existing markets of Davidson County and Williamson County. The acquisition will also provide loan portfolio diversification for Reliant with the addition of a specialized lending team focused on manufactured housing, primarily in the Southeastern United States,” DeVan Ard, Jr., Reliant Chairman, President, and Chief Executive Officer.
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