State Bank Financial Corp., the holding company for State Bank and Trust Co., has announced that it has completed its mergers with NBG Bancorp Inc. and S Bankshares Inc.
Each merger was completed Dec. 31, and full conversion of operating systems was completed at the end of last week.
In Savannah, that means S Bank, located at 120 Drayton St., is now part of State Bank and Trust, the fourth-largest Georgia-based banking institution in the state.
“We are pleased to welcome our new clients and team members from The National Bank of Georgia and S Bank,” said State Bank CEO Tom Wiley. “These mergers provide for the expansion of our statewide footprint with entry into the very attractive markets of Athens, Gainesville and Savannah. 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.”
Wiley is well-known in Savannah as he served as president and CEO of the Coastal Bank here from 2007 to 2013.
“For years, State Bank has recognized Savannah as the most important market we weren’t in, so that has now been resolved and we can begin expanding our platform here,” he said. What many people don’t know is that State Bank has had a mortgage operation and a homebuilder finance operation in Savannah since 2015, he said.
“In 2016, we closed $51.2 million in mortgage loans and $31 million in construction loans,” he said, adding that the bank has an additional $50 million in commercial development loans in the pipeline.
“What made S Bank so attractive to us at State Bank was the leadership of Dana Potts and her team of award-winning SBA lenders,” Wiley said. “It’s a great cultural fit for us, and we want to help expand her ability to provide SBA loans with a wide variety of treasury products and a larger capital base from which to operate.”
Potts, who transitions from president and CEO of S Bank to senior vice president and regional sales and service manager for State Bank, said she is excited about the possibilities State Bank offers, especially in the realm of small business loans.
“With State Bank’s assets, the sky’s the limit,” she said.
About State Bank Financial Corp.
State Bank Financial Corp. (NASDAQ: STBZ), with approximately $4.1 billion in assets as of Dec. 31, 2016, is an Atlanta-based bank holding company for State Bank and Trust Co. State Bank operates 31 full-service banking offices in Atlanta, Middle Georgia, Augusta, Athens, Gainesville, and Savannah, Ga. and eight mortgage origination offices throughout Georgia.
To learn more about State Bank, visit www.statebt.com.