Colony Bank announced that it has completed the purchase of the Albany branch of Planters First Bank, which is located at 113 North Westover Boulevard.  The transaction also includes a vacant lot located at the corner of Pointe North Boulevard and Old Dawson Road in Albany, on which Colony expects to build a branch during 2019.
 
The branch purchase is expected to result in the transfer of approximately $22 million in loans and $12 million in deposits.
 
Commenting on the transaction, Heath Fountain, Colony's Chief Executive Officer, said, "We are pleased to complete this branch purchase and are excited about the opportunities ahead for Colony Bank as we continue to grow in Albany.  We are now positioned to make additional capabilities available to our customers at this branch and continue to build on our solutions-based approach to banking.  Importantly, the same familiar faces at this office that our customers have come to know will make this transition seamless and transparent."
 
Fountain added, "We consider this step in expanding our footprint to be indicative of our greater plans to grow across our markets in ways that meet the current and emerging needs of our customers.  Colony Bank is uniquely situated in banking – larger than most community banks, but much smaller than the regional and national banks – so we are well positioned to deliver essential capabilities in a more responsive way as we create custom solutions to help our customers achieve their financial goals."
 
Fountain noted that Colony Bank's new Albany branch is led by Regional President Cindy Griffin and Market President Tommy Clark.  Griffin is a veteran banker with 34 years of experience.  She specializes in providing financial solutions and a high level of service to businesses, their owners and professionals.  Griffin currently serves on the Board of Directors of the Alzheimer's Outreach Center.  She is married to Dexter Griffin and they have three daughters, Nichole Griffin, Laura Finney and Heather Keperling, and three grandchildren.  Clark has 16 years of banking experience.  He has been involved in leadership roles in numerous community organizations including the Albany-Dougherty Economic Development Commission, South Georgia Council of the Boy Scouts of America and Girls, Inc.  He is a Past Chairman of the Albany Area Chamber of Commerce.  He currently serves on the Boards of Directors for the Albany Civil Rights Institute and Doublegate Country Club.  He is married to Dana Baldwin Clark and they have a son, Collins.
 
Other key team members at the branch are Linda Durden, Administrative Assistant; Kristy Powell, Treasury Management Specialist; and Tori Pouncey, Universal Banker.