Atlantic Capital Bank provides banking and financial services to mid-market and emerging growth companies and consumers. The 061121025 ABA Check Routing Number is on the bottom left hand side of any check issued by ATLANTIC CAPITAL BANK, NA. Three branches of Atlantic Capital Bank will close in connection with the merger with FirstBank. Today, we announced a merger with Atlantic Capital Bank, an #Atlanta based Commercial bank. 1828(d)) for state nonmember banks, and 12 U.S.C. PROVIDENCE, RI - Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Air Conditioning Innovative Solutions ("ACIS"), a provider of commercial HVAC and other building services, on its sale to Atlantic Street Capital. Davis Polk is advising SouthState Corporation on its all-stock approximately $542 million merger with Atlantic Capital Bancshares, Inc. SouthState Corporation and Atlantic Capital Bancshares signed a definitive agreement pursuant to which Atlantic Capital will merge with and into SouthState in an all-stock transaction with an aggregate value of approximately $542 million, or $26.43 per share of Atlantic Capital common stock.  A memorandum of Understanding (MoU) has been signed awaiting further action from the two sides. This transaction strengthens Union's presence in Virginia's most populous market, Northern Virginia. To learn more about the SouthState merger click here. The list includes First Atlantic Bank, but not Energy Commercial Bank, which it has been in the process of acquiring since December last year; and Omni-BSIC Bank which is the result of a merger . Atlantic Capital Bank will be merging with SouthState in Q1 of 2022. The Fed briefly extended the comment period - but then on December 17 asked this of South State and its outside counsel: "This correspondence relates to the application filed by South State Corporation, Winter Haven, Florida ("South State"), parent of South State Bank, National Association ("South State Bank"), to merge with Atlantic . (Staff study 176) Institute of Mergers, Acquisitions and Alliances (MANDA) M&A An academic research institute on mergers & acquisitions, including bank mergers First Atlantic Bank says it has exceeded the BoG's GHc400 million minimum capital requirement paving the way for official merger talks with Energy Commercial Bank Limited. About the FSG and Atlanta Bank Merger. Effective May 11, 2018. According to its third-quarter results, the bank has posted a profit after tax of ¢18.9 million, while stated capital was put at ¢169 million. "We worked with a much larger bank before finding Atlantic Capital," Philip explains. Subject to the terms of the merger agreement, Atlantic Capital shareholders will receive 0.36 shares of SouthState common stock for each outstanding share of Atlantic Capital common stock. Based on SouthState's stock price of $73.42 as of July 22, 2021, this equates to a per share value of $26.43 and an aggregate transaction value of $542 . Dear Chair Powell, Secretary Misback and others in the FRS: This is a timely first comment opposing the Applications of South State Corporation to merge with Atlantic Capital Bancshares, Inc., and thereby indirectly acquire Atlantic Capital Bank, NA . 23, 2021 Atlantic Capital Bancshares EPS beats by $0.06, beats on revenue Atlantic Capital (Nasdaq: ACBI) has approximately $3.8 billion in total assets, $3.3 billion in total. Article I THE MERGER . Union Bankshares Corporation ("Union") today announced the completion of its acquisition of Access National Corporation ("Access"). Atlanta's Atlantic Capital Bank is merging with Florida's SouthState in a $542 million deal. Based . Atlantic Capital Bank provides banking and financial services to mid-market and emerging growth companies and consumers. Atlantic Capital Bank will be merging with SouthState in Q1 of 2022. JACKSONVILLE, Fla., May 10 /PRNewswire - First Call/ -- Jacksonville Bancorp, Inc. (Nasdaq: JAXB) ("JAXB"), the . Monday, January 7, 2019. Bank Mergers and Acquisitions Activity. Pursuant to the agreement's terms, Atlantic Capital Bank will merge with and into FSGBank. SSB- ACBI Merger Release. The merger will offer business customers more financial capabilities and an expanded presence across # . September 2, 2021. Jacksonville Bancorp, Inc. and Atlantic BancGroup, Inc. First Atlantic bank and Energy bank have begun merger talks in order to raise the 400 million cedis minimum capital requirement for banks. Atlantic Capital Community 5K Raises over $38,000 for Grove Park Neighborhood. Atlantic Capital's wholly-owned bank subsidiary, Atlantic . To learn more about the SouthState merger click here. These statements include, but are not limited to, statements about the benefits of the proposed merger of SouthState and Atlantic Capital, including future financial and operating results (including the anticipated impact of . Established in May 2007 with $125mm in equity capital, ACBI was the largest de novo bank equity capital raise in U.S . . The FLG in a statement signed by the Head of Financial Situation Room, Nana Yaw Kumi Asafo, commended the two banks for working to come together to raise the 400 million cedis minimum . As of 30 June 2021, Atlantic Capital had approximately $3.8bn in assets, $3.3bn in total deposits, and $2.3bn in total loans. 02.01.19. MYRTLE BEACH, S.C., Dec. 17, 2021 /PRNewswire/ -- South Atlantic Bancshares, Inc. ("South Atlantic" or the "Company") (OTCQX: SABK), parent of South Atlantic Bank (the "Bank"), today announced the . Bank mergers and acquisitions happen for many different reasons, such as adding more advanced solutions, gaining deposits or supplementing bank talent. Immediately following the merger of the holding companies, Atlantic Capital Bank, the bank subsidiary of Atlantic Capital, merged with and into FSGBank, N.A., the bank subsidiary of First Security,. ET on . They are 1740 Gunbarrel Road, 5188 . 321) in the case of state member banks, section 18(d) of the FDIA (12 U.S.C. About the FSG and Atlanta Bank Merger. The closures will be effective April 5. In light of the announcement earlier today of our entry into a merger agreement with South State Corporation, Atlantic Capital and South State will host a joint conference call at 8:00 a.m. Atlantic Capital inks merger deal with SouthState valued at ~$542 million SA News Fri, Jul. Knowing this, we provide you with the latest bank merger information, so you . FSG shareholders may elect cash equal to $2.35 per share . The deal is scheduled to . It also provides working capital and equipment loans, loans supported by owner . Read All. May 11, 2021. Today, we announced a merger with Atlantic Capital Bank , an #Atlanta based Commercial bank. Board of Directors A board of directors is a panel of people elected to represent shareholders. They are 1740 Gunbarrel Road, 5188 . Kenneth Swain. For information regarding PPP Forgiveness, please click here. Energy Bank's third quarter financial ending September 2018 puts its stated capital at ¢60 million, while profit for the third quarter was at ¢966,000. 221. Based on SouthState's stock price of $73.42 as of July 22, 2021, this equates to a per share value of $26.43 and an aggregate transaction value of $542 . By Linda Chiem. First Atlantic Bank started operations in 2011. Atlantic Capital Bank was founded on June 26, 2000 and has been serving the financial needs of their customers for over 21 years. ATLANTA, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI) announced net income for the quarter ended September 30, 2021, of $13.3 million, or $0.65 per diluted . In some cases, the order of the checking account number and check serial number is reversed. It operates one branch in the Atlanta metro area and one branch in Athens, Georgia. Locations Contact Us Login Personal Small Business ACE For Business Services Banking for Your Business Commercial Personal and Small Business Not-for-Profit Monitoring activities of the Energy Bank and First Atlantic bank on merger talks in order to raise the 400 million cedis minimum capital requirement for banks, we the Financial Literate Generation . Atlantic Capital Bank is seeking a read more company news. Atlantic Capital was founded in 2007 through the then-largest equity capital raise in U.S. history by a de novo bank holding company. 23, 2021, 06:38 AM (RTTNews) - Financial services company South State Corp. (SSB) and Atlantic Capital Bancshares, Inc. (ACBI) announced Friday the signing of a definitive agreement, under. January 6, 2022. December 10, 2021 12:01 PM Eastern Standard Time. The Company offers commercial and not-for-profit banking services, specialty corporate financial services, private banking services and . April 27, 2021. Lunch Break and Family Promise Announce Merger. today announced the redemption on January 14, 2022 (the "Redemption Date") all of . On July 22, 2021, Atlantic Capital and SouthState Corporation ("SouthState") entered into an Agreement and Plan of Merger, pursuant to which Atlantic Capital will merge with and into . Open Position. OTHER INFORMATION 3. Jul. Atlantic Capital promotes Selena . Read All. (a) Subject to the terms and conditions of this Agreement, in accordance with the Georgia Business Corporation Code (the "GBCC") and the South Carolina Business Corporation Act of 1988, as amended (the "SCBCA"), at the Effective Time, Atlantic Capital shall merge with and into South State pursuant to this Agreement. The purchase price paid by FirstBank was only a fraction of the $160 million that Atlantic Capital paid the former FSG Bank to acquire the same bank branches from the . SouthState Corporation and Atlantic Capital Bancshares signed a definitive agreement pursuant to which Atlantic Capital will merge with and into SouthState in an all-stock transaction with an aggregate value of approximately $542 million, or $26.43 per share of Atlantic Capital common stock. ET on . that provides banking products and services. Under the terms of the merger agreement . Mergers & Acquisitions (M&A) Dec 20 2021. Before joining Atlantic Capital as CFO in 2015, Oakes helped his previous employer, Square 1 Bank in Durham, North Carolina, go public. Subject to the terms of the merger agreement, Atlantic Capital shareholders will receive 0.36 shares of SouthState common stock for each outstanding share of Atlantic Capital common stock. Project. Atlantic Capital, which is now a privately owned bank with about 400 shareholders, intends to register its shares and seek a listing on the Nasdaq exchange concurrent with closing of the merger. Under the terms of the merger agreement, Atlantic Capital shareholders will receive only 0.36 shares of SouthState common stock for each Atlantic Capital share that they own, an implied per-share . Atlantic Capital Bancshares, Inc. is a bank holding company. Plus: Colorado-based First Western to buy Rocky Mountain Bank parent Florida-based SouthState Corporation is set to acquire Atlantic Capital in a bid to enhance its scale in the Atlanta, Georgia market. John Corbett,. Atlantic Capital engaged Macquarie Capital as its financial advisor and Womble Carlyle Sandridge & Rice,. The acquisition will be accomplished through the merger of Prime Bank with and into Patriot Bank, N.A., a national bank headquartered in Stamford, Connecticut that is a wholly-owned subsidiary of Patriot National Bancorp, Inc. pursuant to Section 36a-126 (b) of the Connecticut General Statutes. Atlantic Capital (NASDAQ:ACBI) will merge with SouthState (NASDAQ:SSB) in an all-stock transaction with an aggregate value of ~$542 million, or $26.43 per share of Atlantic Capital common stock . "First Atlantic Bank is proud to report that we have exceeded the target of GHS 400 million within the specified time frame," the Bank said in a statement, "The move . The merger was announced in March 2015 under the terms that Atlantic Capital would offer approximately $2.35 in share value to FSG shareholders, compared to the company's closing share price of $2.27 then. Atlantic Capital Bancshares Inc operates as a commercial bank in Atlanta, Georgia providing a range of credit, treasury management, and deposit products and services to emerging growth businesses, middle-market corporations, commercial real estate developers and investors, and private clients through corporate and business banking, commercial . Atlantic Capital named 2021 Best Places to Work. SouthState Corporation and Atlantic Capital Bancshares jointly announced the signing of a definitive agreement pursuant to which Atlantic Capital will merge with and into SouthState in an all-stock transaction with an aggregate value of approximately $542 million, or $26.43 per share of Atlantic Capital common stock. Atlantic Capital Bank has introduced a new read more company news. This merger is expected to bolster SouthState's presence in the Atlanta market. The merger will offer business customers more financial… Shared by Teri Goad View important events in history of Atlantic Capital Bank, including mergers and acquisitions. The merger agreement has been unanimously approved by the board of directors of Atlantic Capital and SouthState. Key modeling assumptions are for cost saves of approximately 33% of Atlantic Capital's NIE base and after-tax merger and integration costs of approximately $37 million. Given South State's significant and recent merger with CenterState Bank Corporation in June 2020, describe the status of integration of the two companies, including whether South State's key resources have the bandwidth to successfully execute and integrate the proposed merger with Atlantic Capital. Facilities Management. Board of Directors A board of directors is a panel of people elected to represent shareholders. The deal, announced Friday, would help fill a void in SouthState's footprint, which stretches from Virginia to south Florida. Under terms of the merger agreement, Atlantic Capital will purchase First Security for total consideration of approximately $160 million. 0. The company offers non-interest and interest bearing demand, savings and money market, time, and brokered deposits. Save on international money transfer fees by using Wise, which is up to 8x cheaper than transfers with your bank. Union Bank & Trust Is Becoming Atlantic Union Bank. Sales. Pursuant to the merger agreement, Atlantic Capital stockholders will receive 0.36 shares of SouthState common stock for each share of Atlantic Capital common stock owned. Completion of the merger, which is expected in. Law360, New York (March 26, 2015, 4:11 PM EDT) -- With private equity backing, the parent company of Atlantic Capital Bank will drop $160 million in cash and stock to acquire . Their headquarters is located in Atlanta, Georgia. Subject to the terms of the merger agreement, Atlantic Capital shareholders will receive 0.36 shares of SouthState common stock for each outstanding share of Atlantic Capital common stock. Announce Merger Agreement. The deal was announced late last week and is valued at approximately $542 million. The merger was announced in March 2015 under the terms that Atlantic Capital would offer approximately $2.35 in share value to FSG shareholders, compared to the company's closing share price of $2.27 then. The merger agreement has been unanimously approved by the board of directors of Atlantic Capital and SouthState. 1.1 The Merger and Bank Merger. Since 2007, Atlantic Capital has provided creative and reliable banking solutions for commercial and not-for-profit enterprises, commercial real estate investors, and affluent families and individuals in Atlanta and across the country. Their headquarters is located in Atlanta, Georgia. The closures will be effective April 5. A group calling itself the Financial Literate Generation (FLG), has described moves by Energy Bank and First Atlantic Bank to merge as positive and innovative. In light of the announcement earlier today of our entry into a merger agreement with South State Corporation, Atlantic Capital and South State will host a joint conference call at 8:00 a.m. "Pat essentially led our IPO," said Doug Bowers, former . Subject to the terms of the merger agreement, Atlantic Capital shareholders will receive 0.36 shares of SouthState common stock for each outstanding share of Atlantic Capital common stock. This Interagency Bank Merger Act Application will be deemed to constitute an application pursuant to section 9 of the Federal Reserve Act (12 U.S.C. Completion of the merger is subject to customary closing conditions, including. Mergers & Acquisitions (M&A) Dec 25 2021. July 23, 2021. PROVIDENCE, R.I.-- ( BUSINESS WIRE )--Citizens Bank, N.A. Under the terms of the merger agreement, which has been unanimously approved by the Boards of Directors of both companies, upon completion of the merger, shareholders of Capital Bank will be entitled to receive 1.25 shares of OceanFirst common stock for each share of Capital Bank common stock. As Lunch Break launches a $12 million capital campaign to expand programs and facilities, it announced a merger with Family Promise of Oceanport to provide even more services for Monmouth County residents in need. Atlantic Capital Bancshares, Inc. operates as the bank holding company for Atlantic Capital Bank, N.A. Steven J. Pilloff, "Bank Merger Activity in the United States, 1994-2003," Washington: Board of Governors of the Federal Reserve System, May 2004. Whatever the reasons, with each new deal, the financial industry is affected. SouthState Corporation and Atlantic Capital Bancshares signed a definitive agreement pursuant to which Atlantic Capital will merge with and into SouthState in an all-stock transaction with an aggregate value of approximately $542 million, or $26.43 per share of Atlantic Capital common stock.. Atlantic Capital, based in Atlanta, has approximately $3.8 billion in total assets, $3.3 billion in . In a move aimed at bolstering its presence in Atlanta's competitive banking market, SouthState Corp. in Winter Haven, Florida, has agreed to acquire Atlantic Capital Bancshares for $542 million in stock. 12/22/2021. Three branches of Atlantic Capital Bank will close in connection with the merger with FirstBank. . Get the latest news and real-time alerts from Atlantic Capital Bancshares, Inc. (ACBI) stock at Seeking Alpha. Upon completion of the merger, the former stockholders of Capital Bank became entitled to receive 1.25 shares of OCFC common stock for each share of Capital Bank common stock they held plus cash . Banking & Financial Services SouthState announces merger with Atlanta bank for $542M By Luke Torrance - Reporter, Tampa Bay Business Journal Jul 23, 2021 SouthState Bank announced Friday morning. Monday, January 7, 2019. "Our size and unique business model didn't fit within the lines of lending departments at most banks. FB Financial Corp., the parent company of FirstBank, paid about $34.3 million to acquire the Tennessee and North Georgia branches of the Atlanta-based Atlantic Capital Bank.
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