Tallahassee, Fla.-based Capital City Bank (CCB)
has announced its acquisition of a 51 percent ownership stake in BrandMortgage, a Lawrenceville, Ga.-based lender operating in nine states and the District of Columbia.
The financial terms of the transaction were not disclosed. BrandMortgage will continue to operate independently under the leadership of CEO and Managing Partner Greg Shumate and President and Managing Partner Alex Koutouzis. The acquisition is expected to close in the first quarter of 2020.
“Both companies have a proven record of success and share similar philosophies about client service and community commitment,” said William G. Smith Jr., Capital City Bank Group Chairman, president and CEO. “We believe joining Capital City Bank and BrandMortgage will be a very positive change for so many with dreams of homeownership throughout our footprint.”