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.