First Sterling Banks Inc., Kennesaw, Ga., said last week it would buy Georgia Bancshares for an undisclosed price.

Georgia Bancshares, based in Tucker, is the parent of Community Bank of Georgia, a two-branch bank with $76 million of assets. First Sterling, with $176 million of assets, has three branches operating under two banking subsidiaries.

The deal, which the companies said they hope to close early next year, calls for Community Bank to keep its name, charter, and board of directors and to operate as a subsidiary of First Sterling.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.