Three years after acquiring the former Northwest Georgia Bank to become one of Chattanooga’s biggest banks, FirstBank is acquiring additional branches in Chattanooga, Dalton and Knoxville with the purchase 14 bank offices from Atlantic Capital Bank.
FB Financial Corp., the parent company of the Nashville-based FirstBank, said it is buying substantially all of the Atlantic Capital banking and mortgage operations which Atlantic Capital previously acquired in 2015 with its 2015 purchase of the former Chattanooga-based FSG.
FirstBank said it is assuming $602 million in deposits and buying about $381 million in loans with the acquisition of the Atlantic Capital operations in Chattanooga, Dalton and Knoxville.
“We are pleased to announce this addition to the Company, deepening our position as Tennessee’s premier community bank,” Christopher T. Holmes, the president and chief executive of FB Financial, said in an announcement of the deal. “Opportunities to add valuable customer relationships on this scale are scarce, and we are excited about the future prospects of this transaction.”
FirstBank, based in Nashville with 56 current offices, is currently the seventh biggest bank in Chattanooga with six branches in Hamilton County and local deposits of $369.3 million as of June 30. Atlantic Capital Bank is the 12th biggest bank in Chattanooga with local deposits at the end of June 9f $169.6 million.