Jacksonville-based Community First Credit Union of Florida is expanding into Southeast Georgia by acquiring Waycross-based First Southern Bank..The deal is expected to close in the second or third quarter of next year. The credit union is expected to grow to 31 branches with $3.3 billion in assets, $2.9 billion in deposits and $2.5 billion in loans. First Southern Bank is the subsidiary of FSBH Corp. As of Sept. 30, the $324 million bank had $292.2 million in deposits and $222.3 million in net loans and leases. FSBH Chair and CEO Daniel Hager said customers will be able to access a broader range of services. “We clearly see the benefits for our customers, and look forward to joining the Community First team,” he added.Community First was advised by Bridgewater, N.J.-based Olden Lane and Detroit-based law firm Honigman. FSBH Corp. was advised by Philadelphia-based investment bank Janney Montgomery Scott and Atlanta-based law firm Alston & Bird.
