With mergers, bank expands into three Georgia cities

State Bank Financial Corp., the holding company for Macon-based State Bank and Trust Co., has expanded its footprint into Athens, Gainesville and Savannah.

The company has completed its merger with NBG Bancorp Inc. and S Bankshares Inc. that included the banks of each holding company, The National Bank of Georgia and S Bank, respectively, according to a release from State Bank. The shareholders of each bank could elect to receive cash or shares of stock in State Bank Financial.

“With these transactions completed, we have crossed over $4 billion in total assets and have banking offices in seven of the eight largest markets in Georgia,” State Bank CEO Tom Wiley said in the statement.

The conversion of the two banks into State Bank’s existing operating system is expected to be completed in early February.

With the merger, Atlanta-based State Bank Financial has about $4.1 billion in assets and operates 31 full-service banking offices and eight mortgage origination offices.

This story was originally published January 3, 2017 at 5:39 PM with the headline "With mergers, bank expands into three Georgia cities."