© 2021. Other locations include the Atlanta area, Alpharetta and Cumming. Management is working hard to ensure all current customers are aware of any minimal and smooth changes and that their customer service is their number one priority. Forward-looking statements represent management’s beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Investors in the parent of Santa Barbara Bank & Trust lost more than 90 percent of their equity when the region’s largest bank was recapitalized with a $500 million investement. Under the agreement, Affinity will become a division of First Priority Bank, however all of the Berks County market activities will continue to be branded and marketed under the Affinity name. Overview of 2020 Conversion. The company’s banking subsidiary, Newton Federal Bank, opened in 1928 and currently operates two full-service offices in Covington, Georgia and loan production offices in Athens, Georgia and Braselton, Georgia. Based on June 30, 2019 bank-level financials, and excluding merger accounting adjustments, the combined institution will have approximately $613 million in assets, $465 million in deposits and $500 million in loans. HR professionals play a fundamental role to both sides of the merger & acquisition by facilitating and integrating the process to strategically plan for any legal issues that may arise, and then implement the growth strategy of the new endeavor. provided a Fairness Opinion to ABB, and Miller & Martin, PLLC served as its legal advisor.About Community First Bancshares, Inc.Community First Bancshares, Inc. (NASDAQ: CFBI) is a federal corporation based in Covington, Georgia with $305 million in assets. Johnny Smith of CFBI will remain President of CFBI and Newton Federal Bank and will continue to serve on the boards of both entities. This conditional approval is granted based on a thorough review of all information available, including commitments and representations made in the application, merger agreement, and those of your representatives during the Flex HR serves almost every industry in all 50 states, including Georgia, Florida, California, North Carolina, and Tennessee, as well as Puerto Rico, the Virgin Islands, Canada and Europe supporting U.S. subsidiaries of foreign owned companies. Learn more about Flex HR and their team. Affinity Bancshares, Inc. (the "Company") announced today that Community First Bancshares, MHC (the "MHC") has completed its conversion from the mutual holding company to the stock holding company form of organization (the "Conversion"), and the Company has completed its related stock offering. Sep 03, 2002 Institution established: Original name: United Commercial Bank. and should not be reproduced, published or disclosed to others without express written authorization of Flex HR, LLC. Basking Ridge, N.J. (September 5, 2017) – Affinity Federal Credit Union (Affinity) announces its merger with NEA Federal Credit Union establishing one of the largest, continually evolving credit unions in the northeast. The bank is also recognized as a leading banking provider to dentists throughout the Southeast and founded the Dental Offices Managers Association (DOMA), a provider of quality continuing education to dental office managers. Customers can open an account at one of its 0 Branches. The merger would take place through Gaming & Hospitality Acquisition Corp., a … Often times when a company is about to undergo a merger & acquisition it’s necessary to have a human resources audit and due diligence review. [this] makes one of the 10 largest Georgia-based banks, by deposits, to have headquarters in metro Atlanta. Proprietary and Confidential. Flex HR works with companies to create custom, systematical plans to reduce risk and build value, giving businesses the best returns possible. The contents of this website are confidential to Flex HR, LLC. Their specialized HR team of M&A experts has been working in the background since the preliminary announcement of the merger in August to warrant a seamless transition. Cities, states and areas where we provide HR support. The conversion will begin Friday, September 18th. Led by Charles Cawley, MBNA opened its first office in a converted A&P (Great Atlantic & Pacific Tea Company) food supermarket in Ogletown, Delaware. Customers should experience a seamless change as the merger closes, he said, and later will have the advantages of added services. As a result of the closing of the Conversion, the Company is now […] Furthermore, the bank is experiencing great success with their online bank, Fitness Bank, which kicked off earlier this year providing competitive savings rates for those “athletes” who achieve a certain number of steps each month on their fitness device. “Our respective management teams have spent a considerable amount of time prior to this point, studying the relative strengths and weaknesses of our banks. Affinity Bank is based in Atlanta, Georgia and was formed in 2002. System Updates. Consequently, no forward-looking statement can be guaranteed. Additionally, ABB’s preferred stock and trust preferred securities will be redeemed at the close of the transaction, and all accrued but unpaid dividends and interest will be paid on the preferred stock and trust preferred securities. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities to be issued in connection with the proposed merger.In connection with the proposed merger, ABB will send a proxy statement to its shareholders, as well as other relevant documents concerning the proposed merger. The transaction has been unanimously approved by the Boards of Directors of each company and is expected to close in the fourth quarter of 2019 or the first quarter of 2020. Here are the details of the System Updates, and please be sure to take note of times, dates, and actions. Jul 01, 2004 Changed name to Atlanta Business Bank. Our Flex HR specialists serve thousands of different organizations, in countless industries, varying from a few to over 75,000 employees. Affinity Bank of Pennsylvania Customer Reviews, Frequently Asked Questions, Rates, Branches, Related Articles, and Financial Summary - 2021 The transaction is expected to be meaningfully accretive to CFBI’s 2020 earnings per share, excluding one-time merger costs, and the tangible book value earn-back is expected to be less than 3.5 years, utilizing the crossover method.“This transaction marks an important milestone for Newton Federal Bank as we continue to position our organization as a premier Atlanta community bank,” said Billy Fortson, Chairman of CFBI. Together, we believe the strengths are enhanced and the weaknesses are diminished. “ABB brings an attractive customer base and an energetic banking team that, combined with our wonderful team at Newton Federal Bank, will offer a best-of-class banking experience for current and prospective customers. I believe there will be very few Georgia community banks that will match our diverse lines of business and attractive market demographics.”Upon completion of the transaction, Ed Cooney will become CEO of CFBI and Newton Federal Bank and will also become a director of both entities. © 2021 Newton Federal Bank. Together, we will leverage the combined resources and products to clients and prospects across our combined markets in furthering our shared objective of providing a superior banking solution for all stakeholders.”“This is a transformative event for the Newton Federal customers, employees and shareholders,” stated CFBI Chief Executive Officer Johnny Smith. and COVID Notices from Your Affinity Bank Team 2021 PPP Notices COVID-19 Notices SBA Officially Opens 2021 PPP We are Accepting Applications: Get the List of Documents Needed. Atlanta-Based Flex HR, Inc. Partners with Newton Federal Bank and Affinity Bank in Merger. Merger Letter. ... "The merger is going to create a more competitive bank," Ehrlich said. Based on June 30, 2019 bank-level financials, and excluding merger accounting adjustments, the combined institution will have approximately $613 million in … ‘Vijaya Bank Ulisi Horata Samithi’ President Dinesh Hegde Ulepady accused the Congress of staging a protest against the merger of Vijaya Bank for political gains. ‘None of these things on their own is a simple task,’ said Mr Washer. Last updated July 2 2015, 7.49PM (over 5 years ago) First Priority Financial Corp. said the acquisition opens up the Berks County market to the company. The heart of our solutions engine is our HR knowledge and proficiency emerging from our decades of Human Resources experience. Affinity Bancshares, Inc. (the Company) announced today that Community First Bancshares, MHC (the MHC) has completed its conversion from the mutual holding company to the stock holding company form of organization (the Conversion), and the Company has completed its related stock offering. the application to merge Affinity Bank, Atlanta, Georgia into Newton Federal Bank, Covington, Georgia (Newton or the Bank). The completion of the merger has resulted in a bank with approximately $645 million in total assets. I’ve known CFBI CEO Johnny Smith for a long time and look forward to working with him and his team. This identifies any weak points and risks that could put the company’s human capital in danger. Small Business Administration (SBA) Loans, FDIC’s Electronic Deposit Insurance Estimator. HR professionals play a fundamental role to both sides of the merger & acquisition by facilitating and integrating the process to strategically plan for any legal issues that may arise, and then implement the growth strategy of the new endeavor. They customize plans for each client, letting you choose only the services you need as your business evolves. Of those N&P members who voted, 89.61% of savers and 87.22% of borrowers, voted in favour of the N&P to merge with the Yorkshire. Affinity Bank will merge into Newton Federal Bank. Flex HR carried out another successful Merger and Acquisition by completing ABB Financial Group, Inc. (ABB), parent company of Affinity Bank, merging with Covington, GA-based Newton Federal Bank. Based on June 30, 2019 bank-level financials, and excluding merger accounting adjustments, the combined institution will have approximately $613 million in assets, $465 million in deposits and $500 million in loans. A statement to the markets from the board of newly formed Clarion Housing Group announced that it has successfully concluded the merger of Affinity Sutton Group and Circle Housing Group, following the transfer of engagements of Circle Anglia - the parent company of Circle Housing Group - to Affinity Sutton Group. RP Financial, LC. According to The Covington News, “[this] makes one of the 10 largest Georgia-based banks, by deposits, to have headquarters in metro Atlanta.” Moving forward Affinity Bank will operate as a division of Newton Federal bank, with Ed Cooney as the CEO, and headquarters remaining in Covington. According to The Covington News, “[this] makes one of the 10 largest Georgia-based banks, by deposits, to have headquarters in metro Atlanta.”. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements.Factors that could cause or contribute to such differences include, but are not limited to, the possibility that expected benefits may not materialize in the time frames expected or at all, or may be more costly to achieve; that the merger may not be timely completed, if at all; that prior to completion of the merger or thereafter, the parties’ respective businesses may not perform as expected due to transaction-related uncertainties or other factors; that the parties are unable to implement successful integration strategies; that the required regulatory, shareholder, or other closing conditions are not satisfied in a timely manner, or at all; reputational risks and the reaction of the parties’ customers to the merger; diversion of management time to merger-related issues; and other factors and risk influences. Their comprehensive offering includes high-level strategic consulting and planning, HR back office administration, regulatory compliance, organizational development, benefit solutions, mergers, recruiting, training, payroll, employee websites, ethics hotline and administration, risk management, and human capital consulting and outsourcing, to name a few. Additional information about the company and the bank’s products and services can be found at www.newtonfederal.com.About ABB Financial Group, Inc.ABB Financial Group, Inc. is the parent company of Affinity Bank. The pro forma company will be one of the 10-largest Georgia-based banks, by deposits, headquartered in the Atlanta MSA.Under the terms of the merger agreement, ABB shareholders will receive cash merger consideration of $7.50 for each share of ABB. Neither CFBI nor ABB undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.ADDITIONAL INFORMATIONThis press release is not a solicitation of any vote or approval of the CFBI or ABB shareholders and is not a substitute for the proxy statement or any other documents which ABB may send to its shareholders in connection with the proposed merger. Affinity Bank of Pennsylvania is an FDIC insured bank located in Wyomissing and has 174717 in assets. Institution established: Original name:United Commercial Bank: 2004-07-01: Changed name to Atlanta Business Bank: 2010-09-28: Changed name to Affinity Bank: 2020-01-10: Merged into and subsequently operated as part of Newton Federal Bank (29510) in COVINGTON, GA “I founded Flex HR in 2001 by asking ‘What keeps business owners up at night?’ In brief, the answer is most companies don’t receive the quality of HR service that they should.” Affinity Bank is upgrading digital banking and debit cards systems to better serve our clients with more consistent service. Our partnership will also contribute to attracting talented, Atlanta-area bankers to further our growth strategy and reward shareholders with strong performance.”“We are very excited to join the CFBI team,” said ABB Chief Executive Officer Ed Cooney. They offer many levels of services including HR consulting, outsourcing (HRO), compliance, recruiting & talent acquisition, training & development, and onboarding administration. “This combination is incredibly positive for both banks’ clients, employees and shareholders. The merger between Gaming & Hospitality Acquisition with Affinity Gaming is the latest SPAC merger within the gambling industry, following on the footsteps of companies like DraftKings and Golden Nugget … Portions Copyright © Kasasa, Ltd. All rights reserved. Affinity has been offering superior financial services with a member oriented focus since 1935. MBNA was founded in 1982 as Maryland Bank, N.A. Flex HR carried out another successful Merger and Acquisition by completing ABB Financial Group, Inc. (ABB), parent company of Affinity Bank, merging with Covington, GA-based Newton Federal Bank. ABB also operates a loan production office in the fast-growing and affluent Cumming/Alpharetta, Georgia market.The merger will expand CFBI’s presence in the highly desirable Atlanta MSA and accelerates CFBI’s growth strategy following its mutual holding company reorganization and initial public offering in 2017. It also enhances CFBI’s commercial banking capabilities and adds an affluent dental clientele that has spurred ABB’s growth over the last several years. Merger - Limited Liability Company (Domestic) Company AFFINITY BANK HOLDINGS LLC Filing Date 2000-03-01.