Atlanta-based SouthCrest Bank purchases 1 branch from Colony Bank

Atlanta-based SouthCrest Bank NA completed the purchase of the Thomaston, Ga., branch of Fitzgerald, Ga.-based Colony Bank on Dec. 30, 2020.

The purchase included effectively all of the deposits associated with the branch and a select number of loans. As of Dec. 31, 2020, the transferred accounts were open and available at SouthCrest Bank.

SouthCrest Bank is a unit of SouthCrest Financial Group Inc., which had more than $630 million in assets as of Sept. 30, 2020, according to a news release. Colony Bank is a subsidiary of Colony Bankcorp Inc., which had $1.76 billion in assets as of the same date, according to S&P Global Market Intelligence data.