Home Credit union Robins Financial Credit Union acquires Persons Banking Company

Robins Financial Credit Union acquires Persons Banking Company

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Robins Financial Credit Union has signed a definitive agreement to acquire Persons Banking Company, a state chartered bank headquartered in Forsyth, GA.

“Robins Financial has a long history of improving the financial well-being of our members and the community,” said Christina O’Brien, President and CEO of Robins Financial Credit Union. “We have a strategic commitment to bring the benefits of credit union membership to more people while strengthening our position as a strong and trusted financial institution. The addition of Persons Banking Company will allow us to expand our footprint and ensure that we are able to impact the community as we live our mission to be member, funder and community driven. proud community.

The acquisition will provide members and employees of both companies with access to expanded products and services, in particular a full suite of business services ranging from business loans to enhanced business deposit products, as well as more assets finance and technology combined.

“I am excited about the opportunity we have to partner with Robins Financial in an effort that we believe provides significant opportunities for our customers, communities, employees and shareholders,” said Ogden Persons, CEO of Persons Banking Company. . “This partnership is an excellent opportunity to create value for both institutions.

“We are delighted to have the opportunity to offer additional benefits to our customers. With this acquisition, Robins Financial will expand its presence in the commercial market,” said Keith Beckham, President of Persons Banking Company. “I look forward to being part of this process and I look forward to being part of the Robins Financial team.”

Persons Banking Company, formerly The Farmers Bank, was formed in February 2015 from the merger of The Farmers Bank, The Peoples Bank, The Bank of Perry and Spivey State Bank. As of December 31, 2021, Persons Banking Company had $429.5 million in assets and five locations in Georgia.

As the second largest credit union in the state of Georgia, Robins Financial Credit Union, which was established in 1954, currently has over 240,000 members.

Honigman is representing Robins Financial Credit Union as legal counsel and Mercer Capital is its financial advisor in connection with this transaction. Fenimore Kay Harrison represents Persons Banking Company as legal counsel and Hovde Group and DA Davidson & Company are its financial advisers.