Alston & Bird represented an investor group in its acquisition of Community Bank & Trust – Alabama and post-acquisition rebranding as LifeSteps Bank & Trust. This deal included raising over $14 million through a Regulation D offering and related stock purchase of Community Bank and Trust – Alabama. The transaction required the coordination and approval of multiple bank regulators and that the parties obtain a waiver of an FDIC-imposed cross-guarantee.
Representing the investor group was an Alston & Bird team led by partners Patrick Hanchey and Mark Kanaly, senior associate J.P. Mahoney, and associate Stephan Harris (Financial Services).