Tuesday, March 1, 2022

Credit union agrees to buy Persons Banking in Ga.

Robins Financial Credit Union in Warner Robins, Ga., has agreed to buy Persons Banking in Forsyth, Ga.

The $3.9 billion-asset Robins Financial did not disclose the price it will pay for the $430 million-asset Persons. 

The deal is the second in a week where a Georgia credit union plans to buy a bank. Georgia's Own Credit Union agreed on Feb. 21 to buy Vinings Bank in Smyrna, Ga. 

“I am enthusiastic about the opportunity we have to partner with Robins Financial in an effort that we believe offers significant opportunities to our clients, communities, employees and shareholders,” Ogden Persons, Persons' CEO, said in a Monday press release. “This partnership is an excellent opportunity to create value for both institutions.” 

“We have a strategic commitment to bring the benefits of credit union membership to more people, while reinforcing our position as a strong and reliable financial institution," Christina O'Brien, the credit union's president and CEO, said in the release. 

"The addition of Persons ... will allow us to expand our footprint and ensure that we are able make a community impact,” O’Brien added.

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