Deal Overview
Deal Summary
Tupelo, Miss.-based Renasant Corp. unit Renasant Bank has agreed to assume all of the deposits and to purchase certain assets of Roswell, Ga.-based American Trust Bank. American Trust Bank had total core deposits of approximately $195.8 million as of December 31, 2010. American Trust Bank is the twelth FDIC-insured institution to fail in the nation this year, and the third in Georgia.
Deal Terms
Description of Consideration
Renasant Corp. did not pay any premium to the FDIC to assume all of the deposits of American Trust Bank. Renasant Corp. also purchased certain assets of the failed bank at a certain discount. According to the release, the FDIC retained the remaining assets for later disposition.
| Assets Sold in Resolution ($ 000) | 158,000 |
| Deposits Transferred ($ 000) | 223,000 |
| Deposits Liquidated ($ 000) | 0 |
| Premium Paid ($ 000) | 0.000 |
Deal Advisers
Financial Advisers
| Party Advised | Adviser Hired? | Firm Name |
|---|---|---|
| Buyer | Yes | Keefe Bruyette & Woods Inc. |