C&S Holdings to acquire Alliance Bancshares Inc.
by MDJ staff
May 25, 2014 12:51 AM | 1625 views | 0 0 comments | 11 11 recommendations | email to a friend | print
Community & Southern Holdings Inc., which has two locations in Cobb County, announced recently it has entered into a definitive agreement and plan of merger to acquire Alliance Bancshares Inc. and its wholly owned subsidiary, Alliance National Bank. 

Alliance National Bank operates two banking offices in Dalton and Cumming. As of March 31, Alliance National Bank had about $157 million of total assets, $92 million of loans and $130 million of deposits.

“We are very pleased to announce the acquisition of Alliance National Bank,” said Pat Frawley, CEO of C&S Holdings and its wholly-owned subsidiary, Community & Southern Bank. “This acquisition will position Community & Southern as the largest community bank in Dalton, a market that has proven its resilience following the downturn in the economy and the housing and flooring industries in particular. We are also excited to expand our presence in Forsyth County, one of Georgia’s fastest growing markets. Alliance shares our commitment to serving our clients and our communities, and we are excited to welcome them to the Community & Southern family. Jack Turner built a fine bank and we are honored to carry on his legacy of civic involvement and community service.”

Founded in January 2010, Community & Southern Bank is a community bank offering an array of products and services for a diverse banking audience. CSB currently operates 38 banking offices in metropolitan Atlanta and across Georgia’s northern, eastern and western counties and is a well-capitalized financial institution with more than $3 billion in assets.

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