Clayton, FB Cleared, Regulatory Approvals

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Logos for each firm are provided under fair use guidelines.

FB Financial Corporation, a holding company of FirstBank, announced that all regulatory approvals have been received with respect to FirstBank’s proposed acquisition of Clayton Bank and Trust and American City Bank.

In a media release, MHProNews has been informed that, Christopher T. Holmes, FB Financial’s President and CEO stated, “We are excited to have received all necessary regulatory approvals for our pending acquisition of the Clayton Banks which we expect to close at the end of the month. The cultures of the banks have complemented each other even better than we expected. Both the Clayton and FirstBank teams have been working hard to ensure a smooth integration of the companies.”

As previously reported in the Daily Business News, Jim Clayton told MHProNews about his enthusiasm over the deal. Clayton Bank is heavily involved in manufactured housing, as the link here demonstrates.

Numerous Clayton loans involve manufactured homes and communities.

Jim (Ayers @ FirstBank) and I have been great friends for decades and have a lot in common, including being from rural West Tennessee,” said Clayton to MHProNews publisher, L. A. “Tony” Kovach.

The following information, is per their news release.

ABOUT THE CLAYTON BANKS

Clayton Bank is headquartered in Knoxville, Tennessee and has assets of approximately $885 million. The bank has 13 branches across its markets in Knoxville, Jackson, Oakland, Covington, Henderson, Lexington, Friendship and Cookeville, Tennessee.

American City Bank is headquartered in Tullahoma, Tennessee and has assets of approximately $314 million. It operates five branches in Tullahoma, Manchester, Lynchburg and Decherd, Tennessee.

Jim ClaytonrightLATonyKovachleftPhotocreditMHProNewscom
Jim Clayton, right. L. A. “Tony” Kovach, left – in a 2017 photo. Photo credit, MHProNews.com

ABOUT FB FINANCIAL CORPORATION

FB Financial Corporation (FBK) is a bank holding company headquartered in Nashville, Tennessee. FB Financial operates through its wholly owned banking subsidiary, FirstBank, the third largest Tennessee-headquartered bank, with 45 full-service bank branches across Tennessee, North Alabama and North Georgia, and a national mortgage business with offices across the Southeast. FirstBank serves five of the largest metropolitan markets in Tennessee and has approximately $3.2 billion in total assets. ##

(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)

SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

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