State Bank Financial (STBZ) in Atlanta has agreed to buy Georgia-Carolina Bancshares (GECR) in Augusta, Ga.

The $2.6 billion-asset State Bank will pay about $82 million, or $22.35 a share, in cash and stock for the $523 million-asset Georgia-Carolina. State Bank said in a press release Tuesday that it expects to complete the acquisition in the first quarter of next year.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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