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Community First Bancshares/ABB Financial Group deal receives approvals

Covington, Ga.-based Community First Bancshares Inc. (MHC) and Atlanta-based ABB Financial Group Inc. received all required regulatory and shareholder approvals to complete their merger.

The transaction is expected to close Jan. 10, 2020.

Under the terms of the deal, ABB Financial Group will merge into Community First Bancshares, with the latter as the surviving entity. Immediately thereafter, Affinity Bank will merge into Newton Federal Bank (MHC), with the latter as the surviving institution.