First Landmark Bank and Midtown Bank & Trust have agreed to a merger of equals, the second deal involving Atlanta-area banks announced on Monday.
First Landmark's shareholders will own 52.25% of the combined company, which will retain First Landmark's charter. Midtown shareholders will own the rest.
The combined company will have about $423 million of assets and two branches in the Atlanta area. The new company will operate under three trade names: First Landmark, Midtown Bank and Bank of Sandy Springs.
Stan Kryder, president and chief executive of Atlanta-based Midtown, will be CEO of the combined company. Terry DeWitt, CEO of Marietta, Ga.-based First Landmark, will be chief financial officer.
Paces Battle Group and Bryan Cave advised Midtown. Sandler O'Neill and Miller & Martin advised First Landmark.
Earlier Monday, the $2.6 billion-asset State Bank Financial (STBZ) said it would buy Atlanta Bancorp. for $25 million.