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Kelly King of BB&T is an M&A trailblazer, but he isn't doing so intentionally. In announcing plans to buy Susquehanna Bancshares, King said he believes more bankers are becoming more confident maneuvering the choppy regulatory environment.
November 12 -
Ambitious Renasant Corp. in Mississippi is still billions of dollars away from a key regulatory threshold of $10 billion in assets, but it's getting ready now for the demands that come with growing that large. Two of its top executives explain why.
November 10 -
The end of the year is a busy time for closing bank acquisitions at least buyers are hoping that is the case. With the average deal taking about 120 days to complete, there are plenty of banks anxiously awaiting a call from regulators.
December 5
SmartFinancial in Pigeon Forge, Tenn., has agreed to merge with Cornerstone Bancshares in Chattanooga, Tenn.
SmartFinancial shares would be converted to Cornerstone stock, but the company would operate as SmartFinancial. Billy Carroll, SmartFinancial's chief executive, said the deal is valued at about $59.3 million. The transaction is expected to close in the first half of next year.
"Cornerstone has a solid reputation as one of the leading commercial lenders and most respected financial institutions in the booming Chattanooga market," Carroll said in a press release Monday.
Cornerstone would retain its independent brand immediately after the merger, but would assume the SmartBank name at some point in the future.
Miller Welborn, chairman of the $412 million-asset Cornerstone, will retain that title. Bill Carroll, SmartFinancial's chairman, will become vice chairman.
SmartFinancial the parent company of SmartBank has seven branches in eastern Tennessee and the Florida Panhandle. Cornerstone has five branches around Chattanooga.
