Macon-based State Bank & Trust Co. closed a branch of a bank it acquired about three months ago.
Customers of the bank were notified by mail a month before the Fayetteville branch office closed Jan. 31, Marketing Director Tom Woodbery said in an e-mail.
On Oct. 21, Community Capital Bank based in Jonesboro, with a branch office in Fayetteville, was closed by the Georgia Department of Banking and Finance which appointed the Federal Deposit Insurance Corp. as receiver.
The FDIC then entered into a purchase and assumption agreement with State Bank to assume all of the deposits of Community Capital Bank and both its offices became branches of State Bank.
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“We determined that the Fayetteville branch location does not fit our strategy to grow within our primary markets of Middle Georgia and Atlanta,” Woodbery said.
State Bank retained the Jonesboro office.
State Bank Financial Corp. (NASDAQ:STBZ) is the holding company for State Bank & Trust Co., one of Georgia’s best-capitalized banks, with $2.68 billion in assets as of Sept. 30. State Bank has locations in Metro Atlanta and Bibb, Houston, Dooly and Jones counties in Middle Georgia.