LGE Community Credit Union to acquire Georgia Heritage Bank
Subject to Regulatory Approval
LGE Community Credit Union has announced that it has entered into a definitive agreement to purchase Georgia Heritage Bank, a community bank with branches in Paulding and Cobb County.
LGE Community Credit Union, a $1.27 billion credit union based in Marietta, Georgia, currently operates 11 branches, participates in a nationwide ATM network, offers Online and Mobile Banking (including great features like Snap Deposit, which offers the convenience to deposit a check from the LGE mobile app on your smartphone), and a wide variety of financial services. The acquisition will give LGE two additional branches in the footprint.
The boards of directors of both LGE Community Credit Union and Georgia Heritage Bank have unanimously approved the transaction. The closing of the transaction, which is expected to occur in the third quarter of 2018, is subject to approval by Georgia Heritage Bank’s shareholders, receipt of regulatory approvals and other customary closing conditions.
Statement from LGE Community Credit Union President & CEO:
“With LGE Community Credit Union and Georgia Heritage Bank coming together it will deepen LGE’s commitment to business and commercial banking,” said Chris Leggett, president and CEO of LGE Community Credit Union. “We look forward to transitioning Georgia Heritage Bank’s customers to LGE members so they can see firsthand we are a member-owned, not-for-profit cooperative, we pride ourselves on staying dedicated to improving the financial well-being of our members through economically priced and conveniently delivered services, caring personal service and sound financial managemen
Statement from Georgia Heritage Bank President & CEO:
Genevieve Cole, president and CEO of Georgia Heritage Bank, said “With this transaction we are pleased to know that our customers will have access to more branches and services making it more convenient and easier for them to bank. LGE has built a reputation in the community as one of the leading financial institutions dedicated to giving back to the people in the area.”
About LGE Community Credit Union
Named one of America’s Best Credit Unions 2025 by Newsweek, LGE Community Credit Union connects metro Atlanta and northwest Georgia to best-in-class financial products, expert advice, and personalized service. Since 2010, LGE has given back over $2 million to local nonprofit organizations and individuals in need through the LGE Community Outreach Foundation. For more information about LGE, visit LGEccu.org. Federally insured by NCUA.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen has advised on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation