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

By  |  March 26, 2015

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.

“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

 

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