Crescent Banking Co. of Jasper, Ga., has agreed to buy the $66 million-asset Futurus Financial Services Inc. of Alpharetta, Ga., for $10 million.
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The deal was announced Thursday and is expected to close next quarter. It would be the $424 million-asset Crescent's first acquisition and bring it into the Atlanta area with one branch and one loan production office.
Futurus was founded three years ago as a high-tech banking company with a cafe-like branch complete with its own blends of coffee. It has never made money; it lost $287,000 in the first quarter.
Two Futurus directors are to join Crescent's board and two senior executives would join the management team of Crescent Bank and Trust Co.
