United Community Banks Inc., a multibank holding company in Blairsville, Ga., plans to buy Liberty National Bancshares Inc. in Conyers for $36.1 million in cash and stock.
United, which has $4.5 billion of assets, has announced two other Atlanta-area deals this year. When all three are completed, United would have 23 banks with 83 branches in Georgia, North Carolina, and Tennessee.
The privately held Liberty has three branches in the fast-growing Rockdale and Newton counties, southeast of Atlanta. Buying it would give United the No. 3 deposit market share in Rockdale County (14%).
Liberty's shareholders would receive 85% United stock and 15% cash for their 1.3 million outstanding shares. The deal, announced Thursday, is expected to close in the fourth quarter.
