|By Marketwired .||
|January 3, 2014 01:30 PM EST||
ATLANTA, GA -- (Marketwired) -- 01/03/14 -- Georgia Commerce Bancshares, Inc., the holding company of Georgia Commerce Bank, announced the completion of the acquisition of Brookhaven Bank after receiving all shareholder and regulatory approvals. This acquisition transaction creates a nearly $1 billion in assets banking franchise for Georgia Commerce Bank.
With the addition of the two former Brookhaven Bank branches on Clairmont Road and Johnson Ferry Road, Georgia Commerce Bank's footprint expands to nine branches across metro Atlanta.
"The completion of the acquisition with Brookhaven Bank is an important event in Georgia Commerce Bank's history. We have worked with Bill Kane and his team over the past several months and we couldn't be more pleased with the quality of the people and the bank that we have combined with," commented Mark Tipton, Chairman and Chief Executive Officer of Georgia Commerce Bank. "Upon completion of the operational integration, the customers of Brookhaven Bank will be able to use any of our locations across metro Atlanta."
"It was very important to us to find a merger partner that was financially strong and shared our values," said Bill Kane, Chief Executive Officer of Brookhaven Bank. "Georgia Commerce Bank was an excellent match; the merger brings additional services which will benefit our existing clients as well as attract new business."
Rodney Hall, President of Georgia Commerce Bank, said, "We are delighted to welcome the customers and employees of Brookhaven Bank to Georgia Commerce Bank and are committed to providing the highest level of financial services to its customers." Mr. Hall added, "Brookhaven Bank fits very well into our franchise footprint, expanding our presence into the Brookhaven community and meeting the needs of the markets in our existing communities."
Keefe, Bruyette & Woods, Inc., a Stifel Company, served as financial advisor and Womble Carlyle Sandridge & Rice, LLP provided legal counsel to Georgia Commerce. Banks Street Partners, LLC served as financial advisor and Alston & Bird LLP provided legal counsel to Brookhaven Bank.
About Georgia Commerce Bank
Georgia Commerce Bank opened in July of 2003 to offer a higher level of customer service for both personal and commercial banking clients. In ten years, total assets have grown from $13 million to nearly $1 billion. In addition to the new locations listed above, the Bank has seven other locations, including Acworth, Buckhead, Cumberland, Johns Creek, Marietta, Peachtree Corners and Woodstock. For more information, visit gacommercebank.com or call 678-631-1265.
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