Newnan Holdings Inc. says it will put its two subsidiaries and a bank it plans to acquire under one community bank name. The name will be announced later this month.
However, Tom Moat, president and chief executive officer of Newnan Holdings, said he plans to maintain separate boards of directors at each of the three banks, so that decision-making can remain truly local.
"If somebody wants a loan, it will be handled locally," Mr. Moat said.
Newnan Holdings, formed in August, is the parent company of Newnan Savings Bank and Citizens Bank and Trust Co. of Fayette County. The two banks have $260 million in assets and nine offices in Coweta, Fayette, Henry, and Troup counties.
The acquisition of Tara Bankshares, the holding company for Tara State Bank, would add $60 million in assets and two offices in Clayton County.