Altrust Financial Services, Inc. Announces Merger of Generations Bank into Peoples Bank of Alabama
CULLMAN, Ala.--(BUSINESS WIRE)--Altrust Financial Services, Inc., the holding company for Generations Bank and Peoples Bank of Alabama, announces the merger of Generations Bank with and into Peoples Bank of Alabama today.
Generations Bank, established in 2008 as a denovo bank, has grown to $79 million in assets, with 3 branches located in Gadsden, Centre and Cedar Bluff and more than $70 million in deposits.
The combined bank, under the name Peoples Bank of Alabama, is now more than $600 million in assets with 25 branch locations and 31 depository ATMs in 7 counties located throughout north-central Alabama. Those counties include: Blount, Cherokee, Cullman, Etowah, Jefferson, Marshall and Morgan. Peoples Bank of Alabama is headquartered at 1912 Cherokee Ave, Cullman, AL. The Bank now employs more than 250 associates, serving more than 30,000 customers with competitive consumer, mortgage, investment and business products along with the latest in online, mobile and ATM banking services.
Peoples Bank of Alabama is also a major supporter of financial literacy. Through various partnerships, Peoples Bank of Alabama offers its Teen Moola U, an online financial education program, to 40 high schools throughout its footprint teaching thousands of students how to make smarter financial decisions. The Bank also offers Moola U Basics, an adult course, free of charge as well as many other free and easy financial literacy resources for adults at www.Moola-U.com.
Additional information about Peoples Bank of Alabama, the merger of Generations Bank and Altrust Financial Services, Inc. can be found on the bank’s website at: www.PeoplesBankAL.com.