Pinnacle Financial Partners in Nashville, Tennessee, has agreed to buy Synovus Financial in Columbus, Georgia. The $54.8 billion-asset Pinnacle said in a press release that it will pay $8.6 billion in stock for the $61 billion-asset Synovus. The deal is expected to close in the first quarter.
PeoplesBancorp in Worcester, Massachusetts, has agreed to buy Athol Savings Bank in Athol, Massachusetts. PeoplesBancorp, through its $1.7 billion-asset Cornerstone Bank, expects to buy the $650 million Athol Savings in the first quarter. The financial details were not disclosed.
Campbell County Bank in Herreid, South Dakota, has applied to buy Farmers State Bank in Hosmer, South Dakota. The $215.3 million-asset Campbell County applied with the FDIC on July 23 to buy the $21.7 million Farmers State Bank. The price wasn’t disclosed.
East Texas Financial in Kilgore has agreed to buy Texas National Bancorp. in Jacksonville. The parent of the $488 million-asset Citizens Bank did not disclose how much it plans to pay for the $836 million-asset Texas National. The deal is expected to close in the fourth quarter.
Colony Bankcorp in Fitzgerald, Georgia, has agreed to buy TC Bancshares in Thomasville, Georgia. Colony said in a press release that it will pay $86.1 million in cash and stock for TC Bancshares. The deal, which is expected to close in the fourth quarter, priced TC Bancshares at 112.9% of its tangible book value.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
