An investor group has agreed to buy Hazlehurst Investors, the parent of Bank of Hazlehurst in Georgia.
Brighton Capital, an Alpharetta, Ga., group led by former Piedmont Bank executive Taylor Watson, aims to buy the $134 million-asset bank. The deal is expected to close in the fourth quarter. The price wasn’t disclosed.
The group plans to rebrand as Peachtree Banking Co. after the deal closes. Watson would serve as the company’s CEO.
“This transaction represents an exciting opportunity for Bank of Hazlehurst and, most importantly, for the customers, employees and communities we have proudly served for generations,” Butch Kirkley, Hazlehurst’s president and CEO, said in a press release.
“We believe this partnership provides a strong foundation for the continued growth and success of the Bank while creating meaningful opportunities for our customers, employees and shareholders,” added Kirkley, who will remain the bank’s CEO.
Burke Stelling Group and James Bates Brannan Groover advised Hazlehurst. Alston & Bird advised Brighton.