First Volunteer Corp. will acquire FBD Holding Co. Inc., the holding company for First Bank, a community bank headquartered in Dalton with six banking locations in Whitfield and Gordon counties.
“We are excited about the opportunities this merger gives both companies to expand services to customers in the north Georgia market. It provides increased banking convenience for First Bank customers, with eight additional banking offices in Catoosa, Walker and Hamilton counties,” said First Volunteer’s President and CEO Patti W. Steele in a June 10 news release.
In coming months the companies will unveil a new name and branding strategy. The transaction is expected to close in the fourth quarter of 2021.
“This transaction enables us to join forces with a strong and trusted bank that has long been a friendly competitor,” said First Bank’s President and CEO Mitch Sanford. “The shared community banking philosophy of the two banks is at the center of this combination. And it is those synergies that ensure customers will experience the same level of dedication and superior service for which First Bank is known."
FBD Holding Co. Inc. is headquartered in Dalton and owns First Bank which opened in 1996 and has successfully grown to approximately $500 million in total assets with more than 70 employees.
First Volunteer Corp. is headquartered in Chattanooga and owns First Volunteer Bank, a 117-year old bank with $1.3 billion in total assets and 236 employees. First Volunteer Bank has 24 banking offices in Tennessee and north Georgia, including First Volunteer Insurance, a full-service insurance agency.