A PYMNTS Company

US: First Security Group to merge with Atlanta bank in $160 million stock deal

By  |  March 26, 2015
US: First Security Group to merge with Atlanta bank in $160 million stock deal

Atlantic Capital Bancshares and First Security Group jointly announced today the signing of a definitive merger agreement pursuant to which Atlantic Capital will acquire First Security. The transaction has been unanimously approved by the boards of directors of each company. Atlantic Capital is a bank holding company headquartered in Atlanta, Georgia and the parent of Atlantic Capital Bank. First Security is a bank holding company headquartered in Chattanooga, Tennessee and the parent of FSGBank.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “We have focused primarily on small business so I think you’ll see Atlantic Capital in Atlanta become a much better small-business bank,” Kramer CEO said after the deal was announced. “In East Tennessee and Northwest Georgia, FSG will become a much better corporate bank.”

     

    Full Content: Chatttanooga Times Free Press

     

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.