• The Georgia Department of Banking and Finance closed American Trust Bank of Roswell, Ga.
• The Federal Deposit Insurance Corp. was named the receiver.
• Renasant Bank submitted a discount bid of $18.3 million with no deposit premium.
• Renasant acquired about $145 million of American Trust’s assets and assumed about $230 million in liabilities. The FDIC will make a cash payment to Renasant Bank for the difference between the assets acquired and liabilities assumed.
• The acquisition gives Renasant three new locations in North Georgia. The branches will open Monday under the Renasant brand.
• This is Renasant's second FDIC-assisted acquisition in the past eight months.
Click here for more at the Biz Buzz blog.