Centennial Bank Expands with Acquisition of The Bank of Jackson
Deal News | Apr 29, 2025 | EIN
Centennial Bank has announced its agreement to acquire The Bank of Jackson, a strategic move set to enhance its presence in West Tennessee. This acquisition will result in an organization with approximately $1 billion in assets, operating fourteen full-service locations as well as three electronic branches. The Boards of Directors of both entities have approved the merger, which now awaits regulatory approval and is anticipated to conclude by the end of 2025. The head office for the newly merged bank will be located in Trezevant, Tennessee. The leadership of Centennial Bank views this acquisition as an essential step in cementing its geographical footprint in the region. Centennial Bank Chairman George Atwood emphasized the significance of integrating The Bank of Jackson into their banking family to strengthen community ties. CEO Andrea Browning expressed gratitude for the opportunity to build upon the community-oriented service ethos that The Bank of Jackson is renowned for. Bank of Jackson President Harbert Alexander, Jr. remarked on the alignment of visions and values between the two banks, signaling a seamless fit that will continue to support the Jackson community's banking needs with more resources. Updates on the merger will be disclosed as further information becomes accessible.
Sectors
- Banking and Financial Services
Geography
- United States – Both Centennial Bank and The Bank of Jackson operate in Tennessee, highlighting the geographical focus within the US banking market.
- West Tennessee – The acquisition aims to strengthen presence in the West Tennessee region, making it a central focus of the deal.
Industry
- Banking and Financial Services – The acquisition involves two banks, indicating significant activity within the banking and financial sector, specifically community and regional banking services.
Financials
- $1 billion – Approximate assets of the combined organization post-acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Centennial Bank | Bidding Company | Company | The bank acquiring The Bank of Jackson. |
| The Bank of Jackson | Target Company | Company | The bank being acquired by Centennial Bank. |
| George Atwood | Chairman | Person | Chairman of Centennial Bank overseeing the acquisition. |
| Andrea Browning | CEO | Person | CEO of Centennial Bank, involved in the acquisition announcement. |
| Greg Parsons | President | Person | President of Centennial Bank, underscores the importance of the merger. |
| Harbert Alexander, Jr. | President | Person | President of The Bank of Jackson, collaborating in the merger. |