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Morgan-Led Investor Group Closes Acquisition of Georgia Banking Company
Friday 14 May 2021

An investor group led by Bartow Morgan, Jr., has completed the acquisition of Georgia, US-based bank holding company Georgia Banking Company, Inc following the private placements of USD 125m in common equity and USD 55m in subordinated debt, the principals said.

Georgia Banking Company, Inc., a banking holding company with approximately USD 652m in assets, provides a variety of financial services, including mortgage warehouse banking, construction lending, retail banking, government-guaranteed lending, specialty lending and commercial banking, through its wholly owned subsidiary, Georgia Banking Company.

The company will use the proceeds raised from the equity and debt sales to help build a commercial and private banking franchise with the technology and breadth of products to serve middle market businesses across several key sub-markets in northern metro Atlanta.

Commercial lending, including commercial real estate, will be paired with treasury management services.

The bank plans to move its headquarters later this year from Sandy Springs to 1776 Peachtree Road in Atlanta.

Patriot Financial Partners was the lead institutional investor in the equity raise with FJ Capital Management as the second largest institutional investor.

Both investors will have representatives serve on the company's board of directors. Long-time Georgia banker Jim Lientz, a partner in Safe Harbor Consulting, will serve as chairman of the board.

The bank will also continue to provide its unique set of mortgage products to independent mortgage bankers across the nation. Key executives and other personnel from this organization will remain.

Performance Trust Capital Partners served as exclusive financial adviser and sole placement agent for both the common equity and debt offerings.

Troutman Pepper served as legal advisor.

The acquisition completes Morgan's return to banking in metro Atlanta. His great, great grandfather, E.M. Brand, founded Brand Bank in Gwinnett County in 1905, making Morgan the fifth-generation family member in the banking business. Brand Bank was sold to Renasant Corp. in 2018.
Date Published: 14/05/2021