Lowndes Bancshares in Valdosta, Ga., has acquired FMB Bancshares in Lakeland, Ga.
The deal was disclosed by Performance Trust Capital Partners, which advised FMB. The price wasn’t disclosed.
Farmers & Merchants Bank, FMB’s $695 million-asset bank, will continue to operate as a separate bank. Lowndes is the holding company for the $355 million-asset Commercial Banking Co. and the $120 million-asset Citizens National Bank of Quitman.