Marietta, Ga. (December 16, 2022) – LGE Community Credit Union has announced that it has entered into a definitive agreement to purchase Greater Community Bank, a community bank with branches in Floyd, Gordon and Bartow County.
“With LGE Community Credit Union and Greater Community Bank coming together it will deepen the commitment to consumers and businesses in these communities,” said Chris Leggett, President and CEO of LGE Community Credit Union. “We look forward to continuing to serve the customers of Greater Community Bank. As a member- owned, not-for-profit cooperative, we are dedicated to improving the financial well-being of our members by delivering value through better rates and lower fees, convenience, caring service, and sound financial management.”
David Lance, President and CEO of Greater Community Bank, said “Greater Community Bank was built on the core values of integrity, respect, excellence, service, and team. Our Board of Directors believes LGE Community Credit Union reflects similar values and this alignment will be a positive move for our customers, employees, and the communities we serve.”
LGE Community Credit Union, a $2.04 billion credit union based in Atlanta, Georgia, currently operates 14 branches, participates in a nationwide ATM network, offers Online and Mobile Banking (including great features like Snap Deposit, which offers the convenience to deposit a check from the LGE mobile app on your smartphone), and a wide variety of financial services. The acquisition will give LGE three additional branches.
The Board of Directors of both LGE Community Credit Union and Greater Community Bank have unanimously approved the transaction. The closing of the transaction, which is expected to occur by the third quarter of 2023, is subject to approval by Greater Community Bank’s shareholders, receipt of regulatory approvals and other customary closing conditions.
Greater Community Bank was advised by the investment banking firm The Burke Group and represented by the law firm James Bates Brannan Groover LLP. LGE Community Credit Union was advised and represented by Michael M. Bell of the law firm Honigman LLP.
About LGE Community Credit Union
LGE Community Credit Union provides full-service, federally insured banking to over 124,000 people in northwest Georgia, with better rates and lower fees than you will typically find in a big bank. LGE is open to residents and businesses within Cobb, Paulding, Cherokee, Fulton, Bartow and Douglas counties. Upon regulatory approval of the transaction, it will also be open to residents and businesses within Floyd and Gordon counties. Since 2010, LGE has given over $1,750,000 in the lives of those in the community including children, homeless, abuse victims and those that fall on hard times through the LGE Community Outreach Foundation. For more information, visit lgeccu.org.
About Greater Community Bank
Greater Community Bank is a full-service community bank headquartered in Rome, Georgia. It also operates branches in Calhoun and Cartersville, Georgia. Greater Community Bank’s deposits are insured by the Federal Deposit Insurance Corporation. Additional information regarding Greater Community Bank can be found on its website at www.greatercb.com.