Tupelo Based Bank In Buying Mode

TUPELO, Miss. (AP) – Mississippi-based regional bank Renasant Corp. has completed its acquisition of Georgia-based KeyWorth Bank for $59 million in stock.

Tupelo-based Renasant announced Friday that it has wrapped up the deal.

The merger bulks up the presence of Renasant in Atlanta’s northern suburbs. Renasant has been gobbling up other banks, acquiring seven in the last 11 years.

KeyWorth, based in Johns Creek, Georgia, had $408 million in assets, with four branches and a fifth planned to open by June. Renasant says it will complete the integration of KeyWorth’s systems by mid-June.

Renasant says the merger gives it $8.3 billion in assets and more than 175 offices in Mississippi, Alabama, Tennessee, Georgia and Florida.

Two top KeyWorth managers are supposed to remain.

Renasant says the acquisition will boost profits immediately.