Georgia's Own Credit Union lines up bank acquisition

Georgia’s Own Credit Union in Atlanta has agreed to buy Vinings Bank in Smyrna, Ga. 

The $3.4 billion-asset Georgia’s Own said in a press release Monday that it will keep all of the $653 million-asset Vinings’ employees. Georgia’s Own, which bought State Bank of Georgia in 2018, did not disclose the price it will pay. 

“We are committed to making this venture a positive one for everyone involved,” Dave Preter, Georgia’s Own president and CEO, said in the release. “Through this alliance, we feel confident that we can deliver added value and exceptional products and services to our members and the community.” 

The deal is the first of 2022 where a credit union plans to buy a bank. There were 13 credit union-bank mergers announced last year.