Jonathan and I discuss the evolving landscape for banking in our hometown, Atlanta, Georgia, in this latest episode of The Bank Account.
- January – Ameris Bancorp’s acquisition of Hamilton State Bancshares for $405 million, priced at 2.05x tangible book;
- March – Renasant Corporation’s acquisition of Brand Group Holdings for $453 million, priced at 2.35x tangible book;
- April – CenterState Bank Corporation’s purchase of Charter Financial Corporation for $362 million, priced at 1.95x tangible book;
- April – National Commerce Corporation’s purchase of Landmark Bancshares for $115 million, priced at 2.22x tangible book; and
- May – Cadence Bancorporation’s purchase of State Bank Financial Corporation for $1.4 billion, priced at 2.48x tangible book.
The landscape looking forward is significantly changed. Below is a pro forma list of the community banks (for these purposes, banks with total deposits of less than $15 billion) with the largest remaining presence in the Atlanta MSA.
|Bank||Atlanta MSA Deposits||Percentage of Total Deposits in Atlanta MSA|
|Renasant Bank (with Brand)||2,740,319||30%|
|United Community Bank||2,533,770||27%|
|Atlantic Capital Bank||1,572,642||74%|
|Ameris Bank (with Hamilton)||1,416,141||18%|
|Cadence Bank (with State Bank)||1,271,128||11%|
|National Bank of Commerce (with First Landmark)||754,549||25%|
|Metro City Bank||740,409||78%|
|CenterState Bank (with Charter)||711,779||8%|