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📣 GBA Investor Announces Merger

GBA Investor Alliance Bank & Trust has signed a merger agreement with Commercial Bancgroup of Harrogate, Tennessee.

What's next: The deal is set to close July 1, followed by a systems conversion on Sept. 6, Dan Boyd, AB&T's CEO and president, and GBA’s former Board Chair.

  • The combined company will have around $2.2 billion in assets and 35 full-service branches.

  • That would make Commercial Bank the 10th largest bank headquartered in Tennessee.

Why it matters: For AB&T, merging with Commercial Bank is a major growth move.

"[W]e'll be able to start offering mortgage loans to potential homeowners here in our market," said Boyd.

The bank's current loan ceiling is about $4 million, which will increase to about $50 million following the merger.

"We'll be able to handle more loan needs of our existing customers, and it will also allow us to pursue maybe some larger customers that we previously haven't been able to handle," Boyd said.

What they're saying: Terry Lee, Commercial Bank's CEO, has served on AB&T's board of directors over the last three years. He saw the deal as an opportunity to enter the North Carolina market, more specifically, the Charlotte region.

The merger will not result in any job losses at AB&T, which has about 35 employees. AB&T will rebrand to Commercial Bank by the transaction's closing date.

Following the merger, Boyd will serve as Executive Vice President and NC Market President.

This fall, AB&T, which will be known then as Commercial Bank, plans to open a fifth local branch in Belmont.

  • As of last June, AB&T had more than $223 million in Charlotte-area deposits with about 0.06% market share. It is among the top 10 largest community banks in the local region.


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