Nelson Mullins closed three bank mergers for its southeastern clients at the start of 2023.

The Firm represented:

• United Community Banks, Inc., a Greenville, S.C.-headquartered banking company, as it acquired Huntsville, Ala.-based Progress Bank and Trust, which was merged into United’s subsidiary, United Community Bank. The deal closed on Jan. 3, 2023. Attorneys Lee Kiser, Ben Barnhill, and Ricky Davis advised United Community Bank. Maynard Cooper & Gale, PC represented Progress. Founded in 2008, Progress reported total assets of $1.7 billion, total loans of $1.4 billion, and total deposits of $1.5 billion as of Sept. 30, 2022.
   
• GrandSouth Bancorporation as it was acquired by First Bancorporation. The merger closed on Jan. 1, 2023. Attorneys Ben Barnhill, Brittany McIntosh, Ricky Davis, Ken Janik, Maurice Holloway, and John Gillespie represented GrandSouth. Brooks, Pierce, McLendon, Humphrey & Leonard, LLP represented First Bancorporation, whose subsidiary, First Bank, is headquartered in Southern Pines, North Carolina. The merger solidifies First Bank's position as one of the leading banks headquartered in the Carolinas, with total assets of approximately $12 billion and 118 branches, according to the company.
   
• Heritage Southeast Bancorporation of Jonesboro, Georgia as it completed a merger with and into The First Bancshares, Inc. of Hattiesburg, Mississippi on Jan. 1, 2023. Attorneys Rob Klingler, John Willis, Rusty Melges, Maurice Holloway, Ann Murray, and Frances-Ann Criffield advised Heritage. Following the merger, The First Bank now has approximately $7.9 billion in total assets, $6.9 billion in total deposits and $5 billion in total loans. The Company also now has 114 locations across Mississippi, Louisiana, Alabama, Florida, and Georgia, according to and SEC filing.

For more information, please see:

United Community Bank press release
GrandSouth press release
Heritage Southeast press release

Established in 1897, Nelson Mullins is an Am Law 100 firm of more than 1,000 attorneys, policy advisors and professionals with 31 offices in 15 states and Washington, D.C. For more information on the firm, go to www.nelsonmullins.com.