Jonathan and I discuss the evolving landscape for banking in our hometown, Atlanta, Georgia, in this latest episode of The Bank Account.

the-bank-accountSince the beginning of 2018, there has been steady stream of significant deals affecting the Atlanta MSA.

  • 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
Fidelity Bank $3,062,430 78%
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%
United Bank 980,658 84%
National Bank of Commerce (with First Landmark) 754,549 25%
Metro City Bank 740,409 78%
CenterState Bank (with Charter) 711,779 8%

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