Georgia's Own CU buying $685.6M Vinings Bank – American Banker

Georgia's Own CU agreed to buy Smyrna, Ga.-based Vinings Bank, marking the first credit union-bank deal of 2022, American Banker reported Feb. 21, citing a press release from the Atlanta-based credit union.

As of Dec. 31, 2021, Georgia's Own CU had $3.42 billion in total assets, while Vinings Bank had $685.6 million in total assets, according to S&P Global Market Intelligence data.

Georgia's Own CU plans to retain all 47 full-time equivalent employees of Vinings Bank, American Banker said.

Georgia's Own CU acquired Fayetteville-based State Bank of Georgia in 2018. According to a news release posted on CUInsight.com earlier this month, Georgia's Own CU also planned to submit a proposal to merge with Kingsland, Ga.-based United 1st CU.

In 2021, there were 13 credit union acquisitions of banks.

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