Georgia Commerce Bancshares, Inc., the holding company of Georgia Commerce Bank, and Brookhaven Bank on Oct. 1 jointly announced the signing of a definitive merger agreement that will create a nearly $1 billion in assets banking franchise.
The merger will expand Georgia Commerce Bank’s footprint to nine branches across metro Atlanta. Brookhaven Bank has two branches located in North DeKalb County, one located at 2987 Clairmont Road and a second located at 2221 Johnson Ferry Road.
The acquisition has been approved by the boards of directors of the companies, and is expected to close late in the fourth quarter of 2013. It is subject to customary conditions, including Brookhaven shareholder and regulatory approval.
“We are very excited about having Brookhaven Bank as part of our family and expanding our banking franchise into the vibrant Brookhaven community,” Mark Tipton, CEO of Georgia Commerce Bank, said in a press release. “We are impressed with the employees, officers, management and board of this quality community bank, who share our same values, philosophies and commitment to outstanding customer service.”
Bill Kane, chief executive officer of Brookhaven Bank, said the acquisition will benefit customers, employees and the community. “With its larger size and successful track record, Georgia Commerce Bank offers our customers new and expanded services, and creates more opportunity for our employees,” Kane said.