LGE Community Credit Union in Atlanta has agreed to buy Greater Community Bank in Rome, Ga.
The $2 billion-asset LGE said in a press release that it expects to complete the purchase of the $321 million-asset Greater Community in the third quarter. The price wasn’t disclosed.
Greater Community has three branches.
LGE also bought Georgia Heritage Bank in 2018.
The acquisition “will deepen the commitment to consumers and businesses in these communities,” Chris Leggett, LGE’s president and CEO, said in the release.
“As a member-owned, not-for-profit cooperative, we are dedicated to improving the financial well-being of our members by delivering value through better rates and lower fees, convenience, caring service and sound financial management,” Leggett added.
Greater Community was advised by The Burke Group and James Bates Brannan Groover. LGE was advised by Michael Bell at Honigman.
The is the 14th instance of a credit union agreeing to buy a bank in 2022.