Community Bankshares Acquires Thomas USAF to Revolutionize Rural Lending
Deal News | Jan 28, 2025 | Globenewswire
Community Bankshares, Inc., a rapidly expanding financial services firm, has announced its acquisition of Thomas USAF / Thomas Financial Group, known for its leadership in USDA government-guaranteed commercial lending. This strategic acquisition is aligned with Community Bankshares' goal to reshape the financial landscape, particularly in rural and underserved areas in the United States. Jeremy Gilpin, Chairman of the Board, highlighted the transformative potential of this partnership, which combines the expertise of Thomas Financial Group with Community Bankshares' expansive capabilities, including the innovative tools of Phoenix Lender Services. Founded by Mike Thomas, Thomas Financial has facilitated over $5 billion in loans, supporting small businesses through USDA and SBA programs, and will now function as a wholly owned subsidiary of Community Bankshares. The acquisition aims to enhance access to capital and support economic growth in rural communities. Thomas, while stepping back from daily operations, will continue to influence the company's direction by focusing on governmental affairs. This move strengthens Community Bankshares' position as a leader in government-guaranteed lending, ensuring continued support for small businesses nationwide.
Sectors
- Financial Services
- Government-Guaranteed Lending
Geography
- United States – Both Community Bankshares, Inc. and Thomas USAF / Thomas Financial Group operate in the United States, and the focus of the acquisition is to expand services nationwide, particularly in rural and underserved areas.
- Georgia – Both companies are based in Georgia, with Community Bankshares headquartered in LaGrange and Thomas Financial Group in Atlanta.
Industry
- Financial Services – The article focuses on financial services, specifically the acquisition of a company specializing in government-guaranteed lending.
- Government-Guaranteed Lending – Both companies are involved in government-backed loan programs, making this a key aspect of the industry.
Financials
- Over $5 billion – Amount facilitated in financing by Thomas Financial Group for businesses through USDA and SBA loan programs.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Community Bankshares, Inc. | Bidding Company | Company | A rapidly growing financial services company based in LaGrange, Georgia, aiming to redefine lending practices in rural and underserved markets. |
| Thomas USAF / Thomas Financial Group | Target company | Company | A leader in USDA government-guaranteed commercial lending, known for empowering small businesses and communities. |
| Phoenix Lender Services | Subsidiary | Company | A subsidiary of Community Bankshares, focusing on innovative lending solutions. |
| Jeremy Gilpin | Chairman of the Board | Person | Chairman of Community Bankshares, leading the strategic vision for the company's expansion. |
| Chris Hurn | President | Person | President of Community Bankshares, involved in the newly formed partnership's leadership and direction. |
| Mike Thomas | Founder | Person | Founder of Thomas Financial Group, pivotal in developing the company into a leader in government-guaranteed lending. |