Brief: Colony Bank To Acquire Cadence Bank's East Georgia Homebuilder Finance Loan Portfolio

Colony Bankcorp

24/02/2020 12:22

Feb 24 (Reuters) - Colony Bankcorp Inc  CBAN.O :
    * COLONY BANK SIGNS DEFINITIVE AGREEMENT TO ACQUIRE CADENCE
BANK’S
EAST GEORGIA HOMEBUILDER FINANCE LOAN PORTFOLIO AND EXPAND ITS
FOOTPRINT IN SAVANNAH AND AUGUSTA
    * COLONY BANKCORP INC - PURCHASE PRICE IS AT PAR OF
OUTSTANDING
LOANS PLUS CASH CONSIDERATION OF $250,000
    * COLONY BANKCORP INC - DEAL TO CONSIST OF ABOUT $47 MILLION
IN
LOANS OUTSTANDING AND APPROXIMATELY $80 MILLION IN TOTAL
COMMITMENTS

Source text for Eikon:  ID:nGNX8Xbrdr 
Further company coverage:  CBAN.O 

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