On January 2, 2020, Reliant Bancorp Inc. (NASDAQ: RBNC) announced it had completed the previously announced acquisition of Tennessee Community Bank Holdings which was the parent company for Community Bank & Trust. It is located in Ashland City, Tennessee
Effective on January 1, 2020, TCB Holdings merged into Reliant. Community Bank merged into Reliant Bank as well. The acquisition strengthens Reliant Bank’s position as the fourth largest community bank based on asset size in the Nashville/Davidson/Murfreesboro/Franklin, Tennessee Metropolitan Statistical Area.
Based on September 30, 2019 financial data, the combined company will have consolidated assets of roughly $2.0 billion and deposits of approximately $1.8 billion. After the acquisition, Reliant Bank will operate 22 full-service branches throughout Middle Tennessee and Chattanooga. Additional details regarding the acquisition can be found here.
