The combination of CCF Holding, Heritage Bancorp. and Providence Bank will create a $1 billion-asset institution. Veteran bank investor Kenneth Lehman will be its chairman.
John Corbett has known the leaders of National Commerce since he helped launch CenterState in 1999. It’s a big reason CenterState is breaking from tradition to hire those executives once it buys the Alabama bank.
The company is selling 14 branches, including several around Chattanooga, Tenn., and its mortgage business to FB Financial so it can focus on its Atlanta operations and national lending businesses.
Strong net interest income and other factors made up for a drop in investment banking and other noninterest income at the Atlanta bank, which reported double-digit earnings growth.