Buckhead Community Bancorp Inc. of Atlanta announced plans Friday to acquire the $190 million-asset Allied Bancshares Inc. in Cumming Ga., for $53.5 million in cash and stock.
The $530 million-asset Buckhead has four branches, all in Fulton County.
Allied is the parent of the three-year-old First National Bank of Forsyth County. Buckhead said it intends to operate First National's two branches, in Cumming and Gainesville, under two new names. The Cumming branch would be renamed Forsyth County Community Bank, and the Gainesville branch would operate as Hall Community Bank.
