Community Bank and Trust - West Georgia Acquired by Anchor Bank | Financial Services M&A Deal

Anchor Bank has completed the acquisition of Community Bank and Trust - West Georgia, a banking business in Georgia, for $288 million. Anchor Bank acquires Community Bank and Trust - West Georgia to assume substantially all insured deposits and acquire certain assets of the LaGrange, GA institution. Community Bank and Trust - West Georgia operated three branches in West Georgia, serving depositors and loan customers before the banking acquisition. The divestiture acquisition is a strategic acquisition by Anchor Bank, a strategic buyer, with total deposits of $268 million and an estimated FDIC Deposit Insurance Fund cost of $97 million.