Georgia Banking Company, Inc. (“GBC”) and Peoples BankTrust, Inc.(“Peoples”) have jointly announced a mutual agreement to terminate their merger agreement, previously announced on November 10, 2021. At that time, it was thought that Peoples would merge into GBC in a cash and stock transaction with an aggregate value of approximately $58 million.
The respective Boards of Directors of GBC and Peoples have unanimously approved the termination.
Bartow Morgan Jr., chief executive officer of GBC, says: “After thorough discussions, the Board of Directors of both institutions concluded the best path forward would be to dissolve the proposed transaction between our companies as market conditions have significantly changed, which has impacted the original terms. The termination of the purchase agreement positions GBC to benefit from a stronger capital position and focus on consistent organic growth while building franchise value for our shareholders.”
Peoples Chief Executive Officer, Doug Nichols comments: “Following a thorough evaluation of the transaction between Peoples and GBC, we have mutually agreed that moving forward separately is the sensible decision. Peoples will continue to serve our customers as we have for over 37 years. We are greatly appreciative of both the Peoples and GBC teams that have worked diligently throughout an extensive process.”
GBC is a commercial community bank headquartered in Atlanta, Georgia with assets of approximately $1.3 billion as of May 31, 2022. GBC has offices in Midtown Atlanta, Duluth, Griffin, Lawrenceville and soon will be expanding to serve customers in Alpharetta and Marietta.
Peoples Bank is a commercial bank in Buford which has approximately $475 million in assets as of May 31, 2022. The bank opened in December 1984 with a mission to meet local banking needs while serving the Buford community along with the surrounding areas.
Summer’s burst of art open at Norcross Gallery and Studios
Norcross Gallery and Studios celebrates the warmer season with “Summer Bursts with Fine Art”, its latest exhibit. The show, featuring six selected member artists, is an eclectic display of talent in various media. The exhibit opened June 23 and runs through July 15. On Thursday July 14, there will be a welcoming reception and wine tasting, both free and open to the public from 6 to 8 p.m. Reservations may be made for the wine tasting by texting 404-403-1851.
Participating artist Kathy Collins’ painting, “Water Lilies” was inspired by a sight upon leaving a motel on her way to paint at Cumberland Island. Wedged between the parking lot and the back of a service station was a little pond filled with water lilies – a small touch of beauty breaking through a nondescript scene.
Diane Houle created a wonderful collage from prior watercolor paintings and combined them into the colorful and appealing “Each Day Comes with Its Own Surprise”.
“The world always seems brighter when you have just made something that wasn’t there before”, a quote by Neil Gaiman, is echoed by Susana Walker. She has recently been working on abstract landscapes in oil on paper, creating landscapes with simple forms and bright colors as evidenced by her sunshiny ‘Abstract VII”.
Laurenthia Mesh loves soft grays of Impressionism that soften the light. Her painting “Apres Monet” is a scene of spring blossoms and a man with his boat at dawn.
“Dream Leaves” by portrait and figurative artist Anne Emerson Hall is a reverie based on the tale of Apollo’s pursuit of Daphne, who had vowed to remain a virgin. At her appeal, Zeus turned her into a laurel tree. Had she dreamt of becoming one before, or is she remembering her human form after?
Larry Hallan active artist and board member of Norcross Gallery has a unique work in the exhibit, “Calianis I,” a poured Bronze sculpture.
Norcross Gallery and Studios are located at 116 Carlyle Street in downtown Norcross. They are open Thursdays through Saturdays 11 am to 4 pm. The website is norcrossgalleryandstudios.org.
GC&B’S Citizens Advisory Board gets six new members
Six new members have been named to the Gwinnett Clean and Beautiful’s (GC&B) Citizens Advisory Board (CAB). The new members are tasked with shaping the future of the eco-focused nonprofit. They represent virtually every sector within the Gwinnett County community.
The new members of the GC&B Advisory Board are, from top, Wilson, Higgs and VandenHeuvel, and on the bottom row, Marquez, Holden and Duncan.
The six new members added to GC&B’s Citizens Advisory Board include:
- Angela Duncan – Judge – Gwinnett County Superior Court;
- Derek Higgs – Owner, Higgs Leadership Development;
- Jessica Holden – Science Curriculum Director, Gwinnett County Public Schools;
- Santiago Marquez – CEO, Latin American Association;
- Kristan VandenHeuvel – Director of Applied Research and Engagement, The Water Tower; and
- Shantell Wilson – Economic Development Director, Gwinnett County Government.
Schelly Marlatt, Executive Director for GC&B says: “In our quest to connect people and resources for a sustainable Gwinnett, we seek continuous improvement as an organization. Every person who serves on the Citizens Advisory Board brings something special to the table, causing shifts in both our culture and our delivery of programs and events. I am grateful to each and every member of the CAB – past, present and future. They represent some of Gwinnett County’s best, brightest and most impassioned leaders our community has to offer. I am both delighted and excited to see what each of our six outstanding new members delivers to our board and organization.”
- Have a comment? Send to: elliott@brack.net
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