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National Commerce Corporation Completes Merger with FirstAtlantic Financial Holdings

January 03, 2018, 07:00 AM

National Commerce Corporation, the parent company of National Bank of Commerce (NBC), headquartered in Birmingham, Alabama, announced the completion of the merger of FirstAtlantic Financial Holdings, Inc., the parent company of FirstAtlantic Bank, with and into NCC.  Concurrently with the merger, FirstAtlantic Bank merged with and into NBC, but its offices will continue to operate under the “FirstAtlantic Bank” trade name, and its management team will continue with NBC.

“We are extremely pleased to partner with the team at FirstAtlantic,” said Richard Murray, IV, President and Chief Executive Officer of NCC.  “Mitch Hunt and his team have built a great bank, and we believe they are an excellent fit for our company.  We welcome the clients, shareowners and employees of FirstAtlantic Bank to NCC.  We look forward to working together with Mitch and Paul Grube as they lead our growth in the greater Jacksonville market.”

Mitchell W. Hunt, Jr., President and Chief Executive Officer of FirstAtlantic, also spoke about the merger, saying, “We are very pleased to join with our friends at NCC, and we look forward to our partnership.  We believe we will be in an even better position to serve our customers as a part of National Bank of Commerce.”

In connection with the merger, Thomas H. Coley, a director of FirstAtlantic and FirstAtlantic Bank, has been appointed to the Boards of Directors of both NCC and NBC.  Coley has previously served as Executive Vice President, Head of Southern Banking Group at Wachovia Corporation and as Vice Chairman of SouthTrust Corporation.

Keefe, Bruyette & Woods, Inc. acted as financial adviser to NCC, and Maynard, Cooper & Gale, P.C. acted as its legal adviser.  FIG Partners, LLC acted as financial adviser to FirstAtlantic, and Troutman Sanders LLP acted as its legal adviser.

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