United Community Banks Inc. of Blairsville, Ga., has agreed to buy the $64 million-asset Eagle National Bank in Stockbridge for $12.5 million.
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The deal, announced Tuesday, would move the $4.5 billion-asset United into Henry County, a suburban area southeast of Atlanta.
Local residents founded Eagle in 1997, but the two-branch bank has given mediocre performance. It lost $29,000 in the first quarter, largely because it charged off $180,000 of commercial loans.
The acquisition announcement came a month after United completed its $23 million purchase of the $190 million-asset Fairbanco Holding Co. of Fairburn, Ga.
The Eagle deal is expected to close in the fourth quarter.
