Russellville, Ala.-based CBS Banc-Corp is expanding in neighboring Georgia by acquiring Trenton-based TAG Bancshares. .The deal is expected to close in the first quarter of next year, and will create a $3 billion bank serving Alabama, Georgia, Mississippi and Tennessee. CBS Banc-Corp is the parent company of CB&S Bank. TAG Bancshares is the parent company of Citizens Bank & Trust. The $2.8 billion CB&S Bank has more than 50 branches across four states. The $128 million Citizens Bank & Trust has branches in northwest Georgia and northeast Alabama. CBS Banc-Corp leaders said the acquisition enables its expansion into high-growth markets — particularly Greater Chattanooga, Tenn., which is home to the University of Tennessee at Chattanooga. Citizens Bank & Trust CEO Chris Powell said the merger provides “additional resources, technology and scale to continue providing exceptional service across our markets.” New York City-based investment bank Keefe, Bruyette & Woods and New Orleans-based law firm Jones Walker advised CBS Banc-Corp, while TAG Bancshares was advised by Washington, D.C.-based investment bank Olsen Palmer and Atlanta-based law firm Troutman Pepper Locke.
