Robins Financial Credit Union Announces Agreement to Acquire Persons Banking Company

WARNER ROBINS, Georgia, March 01, 2022–(BUSINESS WIRE)–Robins Financial Credit Union today announced that it has signed a definitive agreement to acquire Persons Banking Company, a state-chartered bank headquartered in Forsyth, Georgia. Robins Financial was established in 1954 and has enjoyed steady growth and stability over the years, making it a mainstay in the Middle Georgia community. As the second largest credit union in the state of Georgia, Robins Financial currently serves over 240,000 members.

“Robins Financial has a long history of improving the financial well-being of our members and the community,” said Christina O’Brien, President and CEO of Robins Financial Credit Union. “We have a strategic commitment to bring the benefits of credit union membership to more people, while strengthening our position as a strong and trusted financial institution. The addition of Persons Banking Company will allow us to expand our footprint and ensure that we are able to make a community impact as we live our mission to be member-driven, fundraising partners and proud of the community. »

This partnership is a proactive step taken by two financially sound institutions with similar histories and philosophies to strengthen their strengths and position. It will help Robins Financial meet the current and future needs of its members across the state of Georgia. The partnership will provide members and employees with the best of both organizations as well as the ability to offer expanded products and services, in particular a full suite of business services from business loans to enhanced business deposit products, as well as more financial assets and combined technology. .

“I am excited about the opportunity we have to partner with Robins Financial in an effort that we believe provides significant opportunities for our customers, communities, employees and shareholders,” said Ogden Persons, CEO of Persons Banking Company. . “This partnership is a great opportunity to create value for both institutions.”

“We are delighted to have the opportunity to offer additional benefits to our customers. With this acquisition, Robins Financial will expand its presence in the commercial market,” said Keith Beckham, President of Persons Banking Company. “I look forward to being part of this process and I look forward to being part of the Robins Financial team.”

Persons Banking Company, formerly The Farmers Bank, was formed in February 2015 from the merger of The Farmers Bank, East. 1910, The Peoples Bank, Conyers, GA, East. 1910, The Bank of Perry, Perry, GA, Is. 1889, and Spivey State Bank, Swainsboro, GA, East. 1965. As of December 31, 2021, Persons Banking Company had $429.5 million in assets and 5 locations in Georgia. www.personsbankingcompany.com

Robins Financial Credit Union is a local non-profit financial cooperative with twenty-two branches in Central Georgia. Robins Financial currently provides financial services to over 240,000 members, with assets exceeding $3.8 billion. www.robinsfcu.org.

Robins Financial Credit Union is represented in the transaction by Honigman LLP as legal advisor and Mercer Capital as financial advisor. Persons Banking Company is represented by Fenimore Kay Harrison LLP as legal advisor and Hovde Group LLC and DA Davidson & Company as financial advisors.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220301005924/en/

contacts

Dee Dee Side
Administrative director
478.322.7576 and 800.241.2405
[email protected]

Dana A. Potts
EVP l Chief Financial Officer
T: 478.289.4004 l C: 912.690.5639
[email protected]