GAINESVILLE - A veteran Atlanta banker has agreed to purchase $2 million in stock of a Gainesville bank that has been seeking a buyer.
William R. Blanton has also agreed to serve as the Chairman of the Board of the National Bank of Gainesville (NBOG) and bring in additional board members.
The proposed sale of NBOG to Roswell-based Nuestra Tarjeta de Servicios, known in Georgai as El Banco de Nuestra Comunidad, which was announced last May was called off in October because, according to NBOG's Financial Advisor Charles Stevens of Stevens and Company, the regulatory approval process was taking too much time.
Blanton has 35 years of banking experience, the past 20 of which have been with banks in the North Atlanta market. Most recently he was with First Capital Bank where he served in various capacities including President from 1989 until its recent sale. During his time with First Capital, the bank's assets grew from $30 million to $700 million.
"His reputation is very, very solid with regard to how he manages a bank," Stevens said Tuesday. "This transaction gives the bank a significantly larger percentage of capital...and Blanton has relationships with other banks (and) he will be using some of those resources to build the bank as well."
Stevens would not rule out a future merger of NBOG with one of the banks Blanton is affiliated with.
The purchase is subject to approval by the Federal Reserve Board, the State Department of Banking and other customary closing conditions.
Monday
October 14th, 2024
2:21AM
