“Robins Financial has lasting history of enhancing the financial well-being of our members and community,” Christina O’Brien, president and CEO of Robins Financial Credit Union, said. “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.”
The acquisition will provide members and employees of both companies access to 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,” Ogden Persons, CEO of Persons Banking Company, said. “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,” Keith Beckham, corporate president for Persons Banking Company, said. “I am eager to be a part of this process and look forward to becoming part of the Robins Financial team.”
Persons Banking Company, formerly The Farmers Bank, was formed in February 2015 as a result of the merger of The Farmers Bank, The Peoples Bank, The Bank of Perry and Spivey State Bank. As of Dec. 31, 2021, Persons Banking Company had $429.5 million in assets and five locations in Georgia.
As the second largest credit union in the state of Georgia, Robins Financial Credit Union, which was established in 1954, currently serves more than 240,000 members.
Honigman is representing Robins Financial Credit Union as legal counsel and Mercer Capital is serving as its financial advisor on this transaction. Fenimore Kay Harrison is representing Persons Banking Company as legal counsel and Hovde Group and D.A. Davidson & Company are serving as its financial advisors.