FB Financial, the Tennessee-based parent of FirstBank, has completed the acquisition of FNB Financial and its wholly-owned subsidiary Farmers National Bank.
Farmers National has nearly $204m in deposits as of 30 June last year and ranks 7th in deposit market share.
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Following the acquisition, FirstBank has $6.4bn in assets, $4.6bn in loans and $5.1bn in deposits on a pro forma basis as of 31 December last year.
The acquisition FNB Financial will enable FirstBank to expand its footprint into Bowling Green MSA, Kentucky.
FB Financial president and CEO Chris Holmes said: “This is an outstanding combination of like-minded banks.
“Farmers National has been a pillar of Scottsville for almost 100 years, and we look forward to continuing to deliver the outstanding service and community involvement that Farmers National’s customers and communities have come to expect.
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By GlobalData“We are thrilled to welcome Farmers National’s associates into the FirstBank family.”
Waller Lansden Dortch & Davis served as legal advisor to FB Financial.
Daniel W. Small & Co served as legal advisor to Farmers National and Mercer Capital served as financial advisor.
Headquartered in Nashville, FB Financial is a bank holding company which operates through its wholly-owned banking subsidiary, FirstBank.
FB Financial acquisitions:
Last month, FB Financial agreed to acquire Franklin Financial Network, the parent of Franklin Synergy Bank, for about $611m.
In April last year, FB Financial completes the acquisition of Atlantic Capital Bank’s 14 branches in East Tennessee and North Georgia.
In August 2017, FB Financial acquired Clayton Banks following the receipt of regulatory nod a month ago.
