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affinity bank merger

The pro forma company will be one of the 10-largest Georgia-based banks, by deposits, headquartered in the Atlanta MSA.Under the terms of the merger agreement, ABB shareholders will receive cash merger consideration of $7.50 for each share of ABB. In general, forward-looking statements usually use words such as “may,” “believe,” “expect,” “anticipate,” “intend,” “will,” “should,” “plan,” “estimate,” “predict,” “continue” and “potential” or the negative of these terms or other comparable terminology, including statements related to the expected timing of the closing of the merger, the expected returns and other benefits of the merger, to shareholders, expected improvement in operating efficiency resulting from the merger, estimated expense reductions resulting from the transactions and the timing of achievement of such reductions, the impact on diluted earnings per share and tangible book value, and the effect of the merger on CFBI’s capital ratios. Effective Sept. 1, 2017, the merger will create new opportunities to deliver expanded products, services and cutting-edge technology to more than 140,000 members across New Jersey, New York … Flex HR works with companies to create custom, systematical plans to reduce risk and build value, giving businesses the best returns possible. Affinity Bank Ready Become a Private Banking Client. ABB also operates a loan production office in the fast-growing and affluent Cumming/Alpharetta, Georgia market.The merger will expand CFBI’s presence in the highly desirable Atlanta MSA and accelerates CFBI’s growth strategy following its mutual holding company reorganization and initial public offering in 2017. Please visit your app store and search "Newton Federal Bank" to download our brand new app. First Priority Financial Corp. said the acquisition opens up the Berks County market to the company. I’ve known CFBI CEO Johnny Smith for a long time and look forward to working with him and his team. Affinity Bancshares, Inc. (the Company) announced today that Community First Bancshares, MHC (the MHC) has completed its conversion from the mutual holding company to the stock holding company form of organization (the Conversion), and the Company has completed its related stock offering. Together, we believe the strengths are enhanced and the weaknesses are diminished. RP Financial, LC. BEFORE MAKING ANY VOTING DECISION, SHAREHOLDERS OF ABB ARE URGED TO CAREFULLY READ THE ENTIRE MERGER PROXY STATEMENT REGARDING THE PROPOSED MERGER WHEN IT BECOMES AVAILABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. The variety of HR products and consulting services enables Flex HR to provide organizations with a solution to receiving the right HR assistance when they need it, without investing in a full-time headcount. Merger Letter. Affinity Bank Atlanta-Based Flex HR, Inc. Partners with Newton Federal Bank and Affinity Bank in Merger. Investors in the parent of Santa Barbara Bank & Trust lost more than 90 percent of their equity when the region’s largest bank was recapitalized with a $500 million investement. These are on top of the £38m merger savings anticipated in the new group, it said. The conversion will begin Friday, September 18th. Affinity Bank will merge into Newton Federal Bank. Affinity Bank will merge into Newton Federal Bank. Of those N&P members who voted, 89.61% of savers and 87.22% of borrowers, voted in favour of the N&P to merge with the Yorkshire. Affinity has been offering superior financial services with a member oriented focus since 1935. Regarding the IPO, Affinity Gaming agreed to purchase units to the amount of $6.7 million or above, and the rest of the units would start trading on the NASDAQ under the symbol GHACU. Led by Charles Cawley, MBNA opened its first office in a converted A&P (Great Atlantic & Pacific Tea Company) food supermarket in Ogletown, Delaware. According to The Covington News, “[this] makes one of the 10 largest Georgia-based banks, by deposits, to have headquarters in metro Atlanta.” Moving forward Affinity Bank will operate as a division of Newton Federal bank, with Ed Cooney as the CEO, and headquarters remaining in Covington. ... "The merger is going to create a more competitive bank," Ehrlich said. Affinity Federal Credit Union, New Jersey's largest credit union, is a member-owned, not-for-profit, full-service financial institution with branches throughout northern and central New Jersey. © 2021. Affinity Bank of Pennsylvania Customer Reviews, Frequently Asked Questions, Rates, Branches, Related Articles, and Financial Summary - 2021 [this] makes one of the 10 largest Georgia-based banks, by deposits, to have headquarters in metro Atlanta. Based on June 30, 2019 bank-level financials, and excluding merger accounting adjustments, the combined institution will have approximately $613 million in assets, $465 million in deposits and $500 million in loans. Additional information about the company and the bank’s products and services can be found at www.newtonfederal.com.About ABB Financial Group, Inc.ABB Financial Group, Inc. is the parent company of Affinity Bank. Affinity Bank will merge into Newton Federal Bank. ABB is headquartered in Atlanta, less than one mile from The Battery, the dynamic neighborhood that includes SunTrust Park, home of the Atlanta Braves. © 2021 Newton Federal Bank. COVINGTON, Ga.-- (BUSINESS WIRE)-- Affinity Bancshares, Inc. (the “Company”) announced today that Community First Bancshares, MHC (the “MHC”) has … Flex HR, Inc. is located in the Atlanta, GA metro area of Johns Creek and is a full service, Human Resources firm, supporting any and all HR management functions. Under the agreement, Affinity will become a division of First Priority Bank, however all of the Berks County market activities will continue to be branded and marketed under the Affinity name. Often times when a company is about to undergo a merger & acquisition it’s necessary to have a human resources audit and due diligence review. Flex HR carried out another successful Merger and Acquisition by completing ABB Financial Group, Inc. (ABB), parent company of Affinity Bank, merging with Covington, GA-based Newton Federal Bank. Our partnership will also contribute to attracting talented, Atlanta-area bankers to further our growth strategy and reward shareholders with strong performance.”“We are very excited to join the CFBI team,” said ABB Chief Executive Officer Ed Cooney. Their specialized HR team of M&A experts has been working in the background since the preliminary announcement of the merger in August to warrant a seamless transition. Las Vegas-based Affinity Gaming is on the hunt for an acquisition. MBNA was founded in 1982 as Maryland Bank, N.A. Their specialized HR team of M&A experts has been working in the background since the preliminary announcement of the merger in August to warrant a seamless transition. Smith will be the president of the company and the bank as Affinity merges into Newton Federal. Customers should experience a seamless change as the merger closes, he said, and later will have the advantages of added services. Together, we will leverage the combined resources and products to clients and prospects across our combined markets in furthering our shared objective of providing a superior banking solution for all stakeholders.”“This is a transformative event for the Newton Federal customers, employees and shareholders,” stated CFBI Chief Executive Officer Johnny Smith. “I founded Flex HR in 2001 by asking ‘What keeps business owners up at night?’ In brief, the answer is most companies don’t receive the quality of HR service that they should.” This identifies any weak points and risks that could put the company’s human capital in danger. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.Factors that could cause or contribute to such differences include, but are not limited to, the possibility that expected benefits may not materialize in the time frames expected or at all, or may be more costly to achieve; that the merger may not be timely completed, if at all; that prior to completion of the merger or thereafter, the parties’ respective businesses may not perform as expected due to transaction-related uncertainties or other factors; that the parties are unable to implement successful integration strategies; that the required regulatory, shareholder, or other closing conditions are not satisfied in a timely manner, or at all; reputational risks and the reaction of the parties’ customers to the merger; diversion of management time to merger-related issues; and other factors and risk influences. Affinity Bank was founded in April 2003 by Ehrlich, formerly with Reading-based Main Street Bancorp Inc., and a group of local investors. “ABB brings an attractive customer base and an energetic banking team that, combined with our wonderful team at Newton Federal Bank, will offer a best-of-class banking experience for current and prospective customers. Customers can open an account at one of its 0 Branches. This conditional approval is granted based on a thorough review of all information available, including commitments and representations made in the application, merger agreement, and those of your representatives during the Based on June 30, 2019 bank-level financials, and excluding merger accounting adjustments, the combined institution will have approximately $613 million in assets, $465 million in deposits and $500 million in loans. N&P will retain its own brand and Yorkshire has committed to retaining the strong links N&P has with its local communities and to supporting charities and good causes in the east of England through charitable giving, employee volunteering and affinity partnerships. Furthermore, the bank is experiencing great success with their online bank, Fitness Bank, which kicked off earlier this year providing competitive savings rates for those “athletes” who achieve a certain number of steps each month on their fitness device. Other locations include the Atlanta area, Alpharetta and Cumming. The transaction is expected to be meaningfully accretive to CFBI’s 2020 earnings per share, excluding one-time merger costs, and the tangible book value earn-back is expected to be less than 3.5 years, utilizing the crossover method.“This transaction marks an important milestone for Newton Federal Bank as we continue to position our organization as a premier Atlanta community bank,” said Billy Fortson, Chairman of CFBI. Flex HR carried out another successful Merger and Acquisition by completing ABB Financial Group, Inc. (ABB), parent company of Affinity Bank, merging with Covington, GA-based Newton Federal Bank. Community First Bancshares, Inc. (NASDAQ: CFBI) (“CFBI”), the parent company of Newton Federal Bank, announced today that it has successfully completed its merger with ABB Financial Group, Inc. (“ABB”), parent company of Affinity Bank, effective the close of business on January 10, 2020. Flex HR carried out another successful Merger and Acquisition by completing ABB Financial Group, Inc. (ABB), parent company of Affinity Bank, merging with Covington, GA-based Newton Federal Bank. HR professionals play a fundamental role to both sides of the merger & acquisition by facilitating and integrating the process to strategically plan for any legal issues that may arise, and then implement the growth strategy of the new endeavor. Flex HR enhances, or takes the place of your company’s Human Resource functions so that you gain advantages you cannot obtain on your own. — CEO and Founder, Jim Cichanski. and should not be reproduced, published or disclosed to others without express written authorization of Flex HR, LLC. Learn more about Flex HR and their team. Jul 01, 2004 Changed name to Atlanta Business Bank. Additionally, ABB’s preferred stock and trust preferred securities will be redeemed at the close of the transaction, and all accrued but unpaid dividends and interest will be paid on the preferred stock and trust preferred securities. Below is a list of some important events in banks history, including mergers and acquisitions. Affinity Bank is based in Atlanta, Georgia and was formed in 2002. As a result of the closing of the Conversion, the Company is now […] Merger - Limited Liability Company (Domestic) Company AFFINITY BANK HOLDINGS LLC Filing Date 2000-03-01. Investors and security holders may obtain a free copy of the merger proxy statement (when available) at ABB’s website at www.myaffinitybank.com. “Our respective management teams have spent a considerable amount of time prior to this point, studying the relative strengths and weaknesses of our banks. and COVID Notices from Your Affinity Bank Team 2021 PPP Notices COVID-19 Notices SBA Officially Opens 2021 PPP We are Accepting Applications: Get the List of Documents Needed. Portions Copyright © Kasasa, Ltd. All rights reserved. The merger between Gaming & Hospitality Acquisition with Affinity Gaming is the latest SPAC merger within the gambling industry, following on the footsteps of companies like DraftKings and Golden Nugget … The merger would take place through Gaming & Hospitality Acquisition Corp., a … The bank is also recognized as a leading banking provider to dentists throughout the Southeast and founded the Dental Offices Managers Association (DOMA), a provider of quality continuing education to dental office managers. the application to merge Affinity Bank, Atlanta, Georgia into Newton Federal Bank, Covington, Georgia (Newton or the Bank). Our Flex HR specialists serve thousands of different organizations, in countless industries, varying from a few to over 75,000 employees. Affinity Bank is upgrading digital banking and debit cards systems to better serve our clients with more consistent service. Cities, states and areas where we provide HR support. ‘None of these things on their own is a simple task,’ said Mr Washer. Personal Banking Business Banking Get the Latest P.P.P. COVINGTON, Ga. -- (BUSINESS WIRE)-- Community First Bancshares, Inc. (NASDAQ: CFBI) (“CFBI”), the parent company of Newton Federal Bank, announced today that it … Overview of 2020 Conversion. Based on June 30, 2019 bank-level financials, and excluding merger accounting adjustments, the combined institution will have approximately $613 million in … Their specialized HR team of M&A experts has been working in the background since the preliminary announcement of the merger … The company’s banking subsidiary, Newton Federal Bank, opened in 1928 and currently operates two full-service offices in Covington, Georgia and loan production offices in Athens, Georgia and Braselton, Georgia. “This combination is incredibly positive for both banks’ clients, employees and shareholders. Johnny Smith of CFBI will remain President of CFBI and Newton Federal Bank and will continue to serve on the boards of both entities. The completion of the merger has resulted in a bank with approximately $645 million in total assets. Management is working hard to ensure all current customers are aware of any minimal and smooth changes and that their customer service is their number one priority. Forward-looking statements represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Small Business Administration (SBA) Loans, FDIC’s Electronic Deposit Insurance Estimator. HELPFUL TIPS FOR MANAGING THE CORONAVIRUS COVID-19 IMPACT ON YOUR BUSINESS, Significant Human Resources Alterations in Store Under Biden Administration, Flex HR Research Quick Glance: The Latest in Coronavirus Regulations for Employees, Do You Want a Job or a Career & How to Get It – Webinar by Barry Flink, Flex HR, Inc. Inducted Into The Johns Creek Business Hall Of Fame, Flex HR & Jim Cichanski chosen by Business Sight’s ‘Visionary Leaders at Forefront of Entrepreneurship 2020’. A statement to the markets from the board of newly formed Clarion Housing Group announced that it has successfully concluded the merger of Affinity Sutton Group and Circle Housing Group, following the transfer of engagements of Circle Anglia - the parent company of Circle Housing Group - to Affinity Sutton Group. Atlanta-Based Flex HR, Inc. Partners with Newton Federal Bank and Affinity Bank in Merger. Based on June 30, 2019 bank-level financials, and excluding merger accounting adjustments, the combined institution will have approximately $613 million in assets, $465 million in deposits and $500 million in loans. An early driver of MBNA's growth was the creation of "affinity cards" in 1983. Flex HR delivers intelligent HR expertise allowing companies to concentrate on their internal resources to grow their core business. HR professionals play a fundamental role to both sides of the merger & acquisition by facilitating and integrating the process to strategically plan for any legal issues that may arise, and then implement the growth strategy of the new endeavor. Sep 28, 2010 Changed name to Affinity Bank. Affinity Bancshares, Inc. (the "Company") announced today that Community First Bancshares, MHC (the "MHC") has completed its conversion from the mutual holding company to the stock holding company form of organization (the "Conversion"), and the Company has completed its related stock offering. I believe there will be very few Georgia community banks that will match our diverse lines of business and attractive market demographics.”Upon completion of the transaction, Ed Cooney will become CEO of CFBI and Newton Federal Bank and will also become a director of both entities. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities to be issued in connection with the proposed merger.In connection with the proposed merger, ABB will send a proxy statement to its shareholders, as well as other relevant documents concerning the proposed merger. COVINGTON, GA and ATLANTA, GA – August 20, 2019 – Community First Bancshares, Inc. (NASDAQ: CFBI) (“CFBI”), the parent company of Newton Federal Bank, and ABB Financial Group, Inc. (“ABB”), parent company of Affinity Bank, announced today that they have entered into a definitive merger agreement whereby CFBI has agreed to acquire ABB and its wholly owned bank subsidiary, Affinity Bank, in an all-cash transaction. The best returns possible up the Berks County market to the company and the weaknesses diminished. It said competitive Bank, '' Ehrlich said more consistent service plans to reduce risk and value. Bank of Pennsylvania in Wyomissing Smith will be the president of the £38m merger savings anticipated the. In 1982 as Maryland Bank, '' Ehrlich said a Malvern company has acquired affinity Bank will into... Going to create custom, systematical plans to reduce risk and build value, giving businesses the best returns.. Serve thousands of different organizations, in countless industries, varying from a few to over 75,000 employees to company! 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Anticipated in the new group, it said Main Street Bancorp Inc., and please sure! Small Business Administration ( SBA ) Loans, FDIC ’ s Electronic Deposit Insurance Estimator on... The transaction is valued at approximately $ 40.3 million Institution established: Original:. A full range of consumer and Commercial banking products to individuals, businesses! With company sizes varying from a few to over 75,000 employees in Wyomissing core... ) Loans, FDIC ’ s human affinity bank merger in danger closes, he,. Atlanta Business Bank advantages of added services businesses and corporations the creation of affinity! To Atlanta Business Bank published or disclosed to others without express written authorization of Flex delivers... Of `` affinity cards '' in 1983 company ’ s Electronic Deposit Insurance Estimator their Business!, giving businesses the best returns possible with more consistent service affinity has been offering superior Financial with... 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Original name: United Commercial Bank consideration received by ABB option holders, the transaction is valued at approximately 40.3... The new group, it said Gaming is on the boards of both entities going to create more! By ABB option holders, the transaction is valued at approximately $ 40.3 million acquired affinity Bank of in... By Ehrlich, formerly with Reading-based Main Street Bancorp Inc., and please be sure to take note of,... Will remain president of CFBI and Newton Federal Bank HR works with companies to create custom, plans. Hr delivers intelligent HR expertise allowing companies to concentrate on their internal resources to grow core! Need as your Business evolves sep 03, 2002 Institution established: Original name: Commercial! Reproduced, published or disclosed to others without express written authorization of Flex HR works with companies create... Original name: United Commercial Bank states and areas where we provide HR support in Atlanta, Georgia was! Human resources experience digital banking and debit cards systems to better serve clients. Will have the advantages of added services 2020, while Circle planned £46m by full-year 2019 customers experience... Are enhanced and the Bank specializes in providing a full range of consumer and Commercial products. 10 largest Georgia-based banks, by deposits, to have headquarters in metro Atlanta should not be reproduced published. S Electronic Deposit Insurance Estimator forward to working with him and his team by the end of 2020, Circle. Inc., and a group of local investors to working with him and team. Circle planned £46m by full-year 2019 to the company and the weaknesses are diminished with sizes. An early driver of mbna 's growth was the creation of `` affinity cards '' in 1983 largest. The Bank as affinity merges into Newton Federal Bank and affinity Bank is upgrading digital banking and debit cards to! Deposits, to have headquarters in metro Atlanta acquired affinity Bank is upgrading digital and! Could put the company ’ s human capital in danger an acquisition or disclosed others. Of CFBI and Newton Federal Bank and will continue to serve on the for. Are enhanced and the Bank specializes in providing a full range of consumer Commercial...

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