NCC, the holding company for Birmingham’s National Bank of Commerce, will buy Georgia’s Private Bancshares, which is the holding company for Private Bank of Buckhead, Private Bank of Decatur and PrivatePlus Mortgage.
The Private Bank locations will continue to operate under their current name and the existing management teams will also remain in place. The transaction is expected to result in a combined institution with approximately $2 billion in assets.
Before the transaction, Private Bank reported $291 million in total assets, $264 million in net loans and $253 million in total deposits. The bank is based at Three Piedmont Center at 3565 Piedmont Road.