SouthCrest Financial Group agrees to acquire Colony Bank’s Thomaston branch

Atlanta-based SouthCrest Financial Group has agreed to acquire Colony Bank’s branch in Thomaston. The agreement includes the purchase of almost $40 million in deposits and approximately $3 million of loans from Colony as of the announcement date Friday, Sept. 11. SouthCrest is the holding company for SouthCrest Bank N.A. The parties expect to close the transaction at the end of the fourth quarter pending regulatory approvals. “We are extremely excited to be adding to our position as the leading…

Atlanta-based SouthCrest Financial Group has agreed to acquire Colony Bank’s branch in Thomaston. The agreement includes the purchase of almost $40 million in deposits and approximately $3 million of loans from Colony as of the announcement date Friday, Sept. 11. SouthCrest is the holding company for SouthCrest Bank N.A. The parties expect to close the transaction at the end of the fourth quarter pending regulatory approvals. “We are extremely excited to be adding to our position as the leading…

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