Wednesday, April 24, 2019
   
Text Size

Oct. 10 - South Coast Bank & Trust’s parent acquires Citizens Exchange Bank of Pearson, GA

By Lou Phelps, Brunswick Business Journa

October 10, 2014 - The FDIC has approved the application of WB&T Bankshares, Inc, the bank holding company for South Coast Bank & Trust, Waycross Bank & Trust and Guardian Bank to acquire 100 percent of the voting shares of The Citizens Exchange Bank of Pearson, GA.  The application is still pending with Georgia bank regulators.

Locally, WB&T’s brand is South Coast Bank & Trust, the trade name for WB&T’s expansion to the Coastal Georgia area which operates as a division of Waycross Bank & Trust.  However, South Coast has stated that its goal is to create a separate state charter in the near future, according to the South Coast website.

South Coast now has three locations in the Glynn County.

WB&T Bankshares is headquartered in Valdosta, founded as Guardian Bank in May 1997 when regulatory approval was granted the founding directors of Guardian Bank to begin a new bank, one that would have its roots firmly planted in South Georgia.

The first Valdosta office of Guardian Bank was opened at 1906 North Ashley Street. The opening occurred in November 1997, and the facility operated as a full-service branch of Waycross Bank and Trust. The office rapidly exceeded original growth projections. Permission for a second branch office was obtained in May 1999, and Guardian Bank opened its new lead branch office at 701 Wildwood Plantation Drive in the fourth quarter of 2000.

In May 2001, Guardian Bank was granted its own charter by the Department of Banking and Finance and is now a separately chartered commercial bank under the holding company WB&T Bankshares, Inc. In the year 2005, a third location was approved and opened its doors on Norman Drive during the first quarter of 2006.

WB&T is led by Ansel P. Clark, who serves as the President of WB&T Bankshares, Inc. and Chief Executive Officer of Guardian Bank and Waycross Bank & Trust. Clark was born and raised in Valdosta where he graduated from Valdosta High School and Valdosta State University, and began his banking career in 1973 at First National Bank in Valdosta and became President and Chief Executive Officer of Commercial Bank, an affiliate bank, in Waycross in 1982. After First Union acquired the bank, Clark served as the City President in Macon in 1989 before accepting the position of Waycross Bank & Trust President in 1990. Under his leadership, WB&T Bankshares, Inc. has grown to a two-bank holding company with banks in Valdosta (Guardian Bank) and Waycross

 

 
CLICK to get NEWS ALERTS!

Follow Us!

  • Facebook: BrunswickDailyNews
  • Google+: brunswickbusinessjournal
  • Twitter: https://twitter.com/BrunsDailyNews

SavDaily

BBJ Top Jobs
MY ACCOUNT
CONTACT
SOCIAL
MORE
ADVERTISE
Coastal Empire News
Headquarters: 35 Barnard St., Suite 300, Savannah, GA. 31401.
Tel: 912-388-4692 | Hours: 8:30 a.m. to 5:00 p.m.

Copyright 2019 - Coastal Empire News | Designed by Absolute Marketing