Banking News

Robins Financial Credit Union Announces Agreement to Acquire Persons Banking Company

Robins Financial Credit Union Announces Agreement to Acquire Persons Banking Company

Robins Financial Credit Union announced its execution of a definitive agreement to acquire Persons Banking Company, a state-chartered bank headquartered in Forsyth, Georgia. Robins Financial was established in 1954 and has experienced sustained growth and stability over the years, making it a pillar in the Middle Georgia community. As the second largest credit union in the state of Georgia, Robins Financial currently serves more than 240,000 members.

“I am eager to be a part of this process and look forward to becoming part of the Robins Financial team.”

“Robins Financial has lasting history of enhancing the financial well-being of our members and 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 reinforcing our position as a strong and reliable financial institution. The addition of Persons Banking Company will allow us to expand our footprint and ensure that we are able make a community impact as we live out our mission to be Member Focused, Financial Partners, and Community Proud.”

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This partnership is a proactive step taken by two financially sound institutions with similar histories and philosophies to enhance on their strengths and position. It will assist Robins Financial with meeting the current and future needs of their members throughout the state of Georgia. The partnership will provide members and employees the best of both organizations as well as the ability to offer expanded products and services, specifically a full suite of commercial services from commercial loans, to enhanced commercial deposit products, as well as more financial assets and combined technology.

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

“We are excited about the opportunity to offer additional benefits to our customer base. Through this acquisition Robins Financial will be expanding its presence in the Commercial Market,” said Keith Beckham, Corporate President for Persons Banking Company. “I am eager to be a part of this process and look forward to becoming part of the Robins Financial team.”

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Persons Banking Company, formerly The Farmers Bank, was formed in February, 2015 as a result of the merger of The Farmers Bank, Est. 1910, The Peoples Bank, Conyers, GA, Est. 1910, The Bank of Perry, Perry, GA, Est. 1889, and Spivey State Bank, Swainsboro, GA, Est. 1965.

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.

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

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