In Brief: SNB of Ga. Paying $15M for Crossroads

SNB Bancshares is buying Crossroads Bancshares, Perry, Ga., its first move into a fast-growing neighboring county.

The Macon, Ga.-based holding company, parent of Security National Bank, would pay about $15 million in stock for $74 million-asset Crossroads.

Rett Walker, president and chief executive officer of $143 million-asset SNB, said that the company has been interested in expanding into Houston County, where Crossroads is based, for three years.

"It is the fastest-growing market in central Georgia and one of the fastest-growing in the state," he said.

This deal gives SNB three branches in Houston County, in addition to the five it operates in its home, Bibb County.

The deal is expected to close during the third quarter.

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