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Main Street Bank

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Main Street Banks was a bank based in Atlanta, Georgia. In 2006, it was acquired by BB&T. The bank operated 24 branches.[1]

History

The bank was founded in 1901 as The Bank of Covington.[2]

In 1996, the bank was renamed Main Street Banks.[2]

In December 2002, the company acquired First National Bank of Johns Creek for $26.2 million.[3]

In May 2003, the company acquired First Colony Bancshares Inc. for $96 million.[4]

In June 2004, the bank laid off 37 employees.[5]

In June 2006, the bank was acquired by BB&T for $599 million in stock.[6]

References

  1. 12"Main Street Banks, Inc. 2005 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 12"Institution History for COVINGTON GA MAIN BRANCH (467630)". Federal Financial Institutions Examination Council.
  3. ↑Lerner, Meredith (January 13, 2003). "Bank acquisitions likely to pick up in 2003". American City Business Journals.
  4. ↑"First Colony Bank bought, name changes to Main Street". American City Business Journals. May 23, 2003.
  5. ↑Lerner, Jill (June 28, 2004). "Main Street Banks workers handed pink slips". American City Business Journals.
  6. ↑"BB&T closes stock swap for Main Street Banks". American City Business Journals. June 1, 2006.