Georgia Banking Company, Inc. (“GBC”), the parent company of Georgia Banking Company, and Primary Bancshares Corporation (“PBC”), the parent company of Georgia Primary Bank, are pleased to announce the successful completion of their merger and the merger of their subsidiary banks, effective March 1, 2025.
“We are excited to welcome Georgia Primary Bank’s customers and employees to Georgia Banking Company,” stated Bartow Morgan, Jr., Chief Executive Officer of GBC and Georgia Banking Company. “The merger represents a pivotal moment for us, as it allows us to combine our strengths and continue delivering exceptional service and innovative financial solutions to metro Atlanta. Together, we will provide even greater value for our customers and communities.”
The combined organization now has approximately $2.43 billion in total assets, and $2 billion in deposits, positioning it as a top three deposit market share holder among banks headquartered in the Atlanta MSA. The merger expands Georgia Banking Company’s footprint across metro Atlanta, adding two branches in Fulton and Forsyth Counties.
David Coxon, Chief Executive Officer of PBC and Georgia Primary Bank, added, “Partnering with Georgia Banking Company opens up new avenues for growth and will build upon our history of service excellence. Our customers will benefit from a wider range of financial products and services, and we are excited about the opportunities the merger brings for our communities and stakeholders.” Coxon will serve as Executive Vice President and Director of Community Banking and Small Business Banking.
Evercore Inc. acted as the exclusive financial advisor, and Troutman Pepper Locke LLP served as legal counsel to GBC in connection with the transaction. Performance Trust Capital Partners served as the exclusive financial advisor, and Nelson Mullins Riley & Scarborough LLP served as legal counsel to PBC in connection with the transaction.
About Georgia Banking Company: Georgia Banking Company is a community bank headquartered in Atlanta, GA, dedicated to providing personalized financial solutions and fostering economic growth in metro Atlanta. For more information, please visit GeorgiaBanking.com.
