Reliant Bank is in advance stage of negotiations with Commerce Union Bank in Springfield to merge their operations and create a bank with nearly $650m in assets.
Reliant Bank believes the merger will enable the bank to expand its footprint in Middle Tennessee.
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Reliant Bank has $384.6m in assets and $38.9m in capital and manages four branches in Brentwood, Franklin and Nashville, while Commerce Union, with $253m in assets, operates branches in Nashville and Gallatin.
If the proposed transaction materializes, the integration would be the third area merger since the end of the recession.
It is believed that a part of the transaction would be made using Commerce Union’s stock. Commerce Union considers offering its stock to Reliant shareholders.
Both Reliant and Commerce Union were established in 2006, which enabled them to thwart some of the problem loans that inundated larger and more established banks during the financial crisis in 2008.
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