Athens Federal Community Bank
Headquarters: Athens, Tennessee Parent company: Athens Bancshares Corp. Established: 1934 Assets: $482 million Deposits: $425.2 million Net income: Bank earned $4.4 million last year, up 10.3 percent from the previous year Staff: 114 employees Offices: 10 in McMinn, Monroe, Bradley and Loudon counties Web site: www.athensfederal.com
CapStar Bank
Headquarters: Nashville Established: 2008 Parent company: Capstar Financial Holdings Assets: $1.38 billion as of March 31 Deposits: $1.14 billion Net income: $2.1 million, nearly five times as much as the previous year Staff: 182 employees Offices: Five in Davidson, Sumner and Williamson counties Web site: www.capstarbank.com
One of Tennessee’s fastest growing banks is buying the biggest bank in Athens, Tennessee as it expands into East Tennessee.
CapStar Bank, the Nashville-based bank established a decade ago, has agreed to pay $113.5 million to acquire Athens Federal Community Bank, which operates 10 branches in McMinn, Monroe, Bradley and Loudon counties. Pending regulatory and shareholder approval, the deal is expected to close in the fourth quarter of the year and on a pro-forma basis create the eighth biggest bank based in Tennessee.
Athens Federal, established in 1934, had $482.3 million in total assets, $422.2 million in deposits and $334.5 million in gross loans as of March 31.