SouthTrust Bank of Georgia signed a letter of intent to acquire Northside Bank, a community bank in the northern suburbs of Atlanta that has $105 million of assets and four offices.
No terms were announced.
SouthTrust of Georgia, with $3.2 billion of assets, is a unit of SouthTrust Corp. of Birmingham Ala., which has $17 billion.
SouthTrust entered Georgia in 1989 with the purchase of another community bank in north Atlanta. It has since cobbled together a sizable franchise in the state by purchasing small banks and thrifts.
