CapStar Bank in Nashville announced late Thursday that it has struck a deal to acquire the $169 million American Security Bank & Trust Co. in Hendersonville, Tenn., for a mix of cash and stock. A sale price was not disclosed.
CapStar's was founded in 2008 with $88 million of start-up capital and last year it reported the greatest percentage of asset growth of any Tennessee-based bank, according to the Federal Deposit Insurance Corp. Once its deal for eight-year-old American security closes later this year, the bank would have $880 million of assets, $770 million of deposits and five branches in metropolitan Nashville.
CapStar President and Chief Executive Claire W. Tucker will hold those same titles at the merged bank, which would retain the CapStar name.
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