LGE Community Credit Union has announced that it will purchase Georgia Heritage Bank.
LGE Community will add the banks branches in Paulding and Cobb counties to its existing 11 locations throughout Georgia. Chris Leggett, president and CEO of LGE Community said the transaction will “deepen LGE’s commitment to business and commercial banking.”
“We look forward to transitioning Georgia Heritage Bank’s customers to LGE members so they can see firsthand we are a member-owned, not-for-profit cooperative,” Leggett said. “We pride ourselves on staying dedicated to improving the financial well-being of our members through economically priced and conveniently delivered services, caring personal service and sound financial management.”
The boards of LGE Community and Georgia Heritage have both approved the transaction. Genevieve Cole, president and CEO of Heritage Bank, said she expects existing customers to see an increase in convenience in their banking experience.
“LGE has built a reputation in the community as one of the leading financial institutions dedicated to giving back to the people in the area,” Cole said.
The transaction is still pending the approval of Georgia Heritage Bank’s shareholders, receipt of regulatory approvals and other customary closing conditions. It’s expected to wrap up by the third quarter.