Oct. 20, 2015, 6:31 PM
- Renasant (RNST +1.5%) says it's acquiring Atlanta-based KeyWorth Bank in a merger deal valued at about $58.7M.
- KeyWorth has about $389M in total assets, $246M in loans. The deal (unanimously approved by the boards) complements Renasant's recent deal for Heritage Financial Group and its 36 branches across Georgia, Alabama and Florida.
- KeyWorth CEO James Pope will stay on to chair the Atlanta Metro Division at Renasant. The deal should close in the first quarter.
- The deal follows another major Atlanta bank deal as Bank of the Ozarks moved to acquire Community & Southern for $800M.
Renasant Corp. operates as a bank holding company for Renasant Bank. It provides financial, fiduciary and insurance services to retail and commercial customers. The bank offers checking & savings accounts, business & personal loans, interim construction & residential mortgage loans, student... More
Industry: Regional - Southeast Banks
Country: United States