PAB Bankshares said this month it's buying Investors Financial Corp. in a $20 million stock deal.
PAB, based in Valdosta, Ga., plans to merge Investors' banking subsidiary, Bainbridge National Bank, into First Community Bank of Southwest Georgia. First Community is one of PAB's three bank subsidiaries.
"I am delighted that we will be able to join two of southwest Georgia's leading community banks," said R. Brad Burnette, president and chief executive officer of $295 million-asset PAB. "We expect the transaction to improve earnings per share in the first year."
The acquisition is expected to close in the second quarter.