Guaranty Bank and Trust in Belzoni, Miss., has applied to buy First American National Bank in Iuka, Miss.
The $1.9 billion Guaranty filed it application to buy the $385 million-asset FANB with the Federal Deposit Insurance Corp. on Aug. 4. The deal, which was announced in late June, is expected to close later this year.
“We are excited about joining the Guaranty Bank team as their banking culture maintains the principles all our customers are accustomed to for more than half a century,” FANB CEO Tommy Chamblee said in a statement when the deal was announced.
“With this partnership, our customers will gain access to a wider array of product offerings and expand our geographic locations,” he added. “The combined strength of the banks will enhance our proven ability to grow and support entrepreneurialism in our communities, while strengthening the benefits to our customers and employees.”