Atlanta-based State Bank Financial Corp. ($3.47 billion), the holdingcompany for State Bank and TrustCo., agreed to acquire Athens, Ga.-based ($375.2 million) andunit National Bank ofGeorgia in a cash and stock transaction valued at approximately $68million, or $45.45 per share.
NBG Bancorp will merge into State Bank Financial upon dealclosing — which is expected to occur in the third quarter — immediatelyfollowed by the merger of National Bank of Georgia into State Bank and Trust.
At Dec. 31, 2015, NBG Bancorp had total loans ofapproximately $331 million, total deposits of approximately $304 million, andtotal shareholder's equity of approximately $40 million. The company isheadquartered in Athens and operates one additional banking office inGainesville, Ga., and a mortgage office in Athens.
NBG Bancorp was represented in this transaction by RenovaPartners as financial advisor and Troutman Sanders LLP as legal counsel. StateBank Financial was represented by Nelson Mullins Riley & Scarborough LLP aslegal counsel.