Community & Southern Holdings Inc., which has 2 locations in Cobb County, declared lately it has signed into a definitive agreement and intends of merger to obtain Alliance Bancshares Inc. and its wholly owned subsidiary, Alliance National Bank.
Alliance National Bank runs two banking offices in Dalton and Cumming. Alliance National Bank as of March 31 had approximately $157 million of total assets, $92 million of loans and $130 million of deposits.
Pat Frawley, CEO of C&S Holdings and its wholly-owned subsidiary, Community & Southern Bank said, We are very pleased to announce the acquisition of Alliance National Bank . This acquisition will position Community & Southern as the largest community bank in Dalton, a market that has proven its resilience following the downturn in the economy and the housing and flooring industries in particular. We are also excited to expand our presence in Forsyth County, one of Georgia s fastest growing markets. Alliance shares our commitment to serving our clients and our communities, and we are excited to welcome them to the Community & Southern family. Jack Turner built a fine bank and we are honored to carry on his legacy of civic involvement and community service.
Established in January 2010, Community & Southern Bank is a community bank providing an array of products and services for a diverse banking audience. CSB at present operates 38 banking offices in metropolitan Atlanta and across Georgia s northern, eastern and western counties and is a well-capitalized financial institution with above $3 billion in assets.