CapStar Bank has agreed to buy certain assets and liabilities from another Tennessee bank, making CapStar’s second acquisition in the past week.
The company said Wednesday that it will also buy a branch in Franklin, Tenn., from Community First Bank & Trust as part of a purchase-and-assumption agreement. CapStar will gain about $58 million in deposits and $42 million in loans.
CapStar, which last week unveiled plans to buy American Security Bank & Trust in Hendersonville, Tenn., said it will have roughly $936 million in assets once it completes both acquisitions. The company said it expects to complete both transactions later this year.
“These two … acquisitions underscore our strategy to pursue sound, profitable, planned growth,” said Claire W. Tucker, CapStar’s president and chief executive, in a press release.