First Commerce Bank to Acquire Peoples Bank of Middle Tennessee, Shelbyville

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“We are very excited about the combination of Peoples Bank and First Commerce Bank. We have known the First Commerce Bank team for a long time and believe that this transaction is one that will benefit our customers, employees, shareholders, and communities.”

Mike Rittenberry, President and Chief Executive Officer of Peoples Bank

Lewisburg and Shelbyville, Tennessee, October 16, 2024 – First Commerce Bancorp, Inc.
(“FC Bancorp”), the parent company of First Commerce Bank, headquartered in Lewisburg, Tennessee, and Peoples Bank of Middle Tennessee (“Peoples Bank”), headquartered in Shelbyville, Tennessee, announced today the signing of a definitive agreement (the “Definitive Agreement”) providing for FC Bancorp to acquire Peoples Bank.
Also, First Commerce Bank and Peoples Bank have entered into an agreement (the “Bank Merger Agreement”) providing for the merger of Peoples Bank with and into First Commerce Bank. On a pro forma basis as of June 30, 2024, the combined bank would have total assets of approximately $843 million, deposits of approximately $748 million, and gross loans of approximately $604 million, and would operate six full-service branches in Bedford, Lincoln, Marshall, and Rutherford counties, Tennessee.