Announced
Financials
Tags
banking services
Acquisition
United States
Merger
Single Bidder
Domestic
Banks
Private
Friendly
commercial banking
Majority
Pending
Synopsis
Colony Bankcorp, a bank holding company, agreed to acquire SouthCrest Financial Group, the holding company for SouthCrest Bank, for $84m. "The transaction provides an increased competitive advantage in the banking arena, not only from the standpoint of products and services, but also those related to customer service. I am excited to once again be working with Heath who I have known for many years, as well as his management team. We are pleased that both institutions share commonalities of enhanced service and value," Brian D. Schmitt, SouthCrest Financial CEO.
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