Reliant Bancorp, Inc. to Acquire Tennessee Community Bank Holdings, Inc. and Community Bank & Trust

Reliant Bancorp, Inc. (“Reliant”) (Nasdaq: RBNC), the parent company for Reliant Bank, announced today that it has entered into a definitive agreement to acquire Tennessee Community Bank Holdings, Inc. (“TCB Holdings”), the parent company for Community Bank & Trust (“CB&T”) located in Ashland City, Tennessee, in an approximately 50% stock and 50% cash transaction.

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The proposed transaction will create the third largest community bank by deposits headquartered in the Nashville-Davidson-Murfreesboro-Franklin, TN Metropolitan Statistical Area (“Nashville MSA”), based upon financial data as of June 30, 2019. On a pro forma basis as of June 30, 2019, the combined company would have assets of approximately $2.0 billion, deposits of approximately $1.8 billion, gross loans of approximately $1.5 billion, and would operate 22 full-service branches throughout Middle Tennessee and Chattanooga. This transaction greatly strengthens and complements Reliant’s existing deposit market share in the Nashville MSA by adding approximately $208 million in attractive deposits, comprised mainly of transaction accounts (~34%) and MMDA and savings accounts (~34%), at an overall cost of deposits of 0.77% for the six months ending June 30, 2019.

DeVan Ard, Jr., Chairman, President, and Chief Executive Officer of Reliant, commented, “We are very excited about the proposed merger with Community Bank & Trust. Our companies share similar values, and our partnership will reinforce the foundation for an extraordinary financial services company that emphasizes service to our customers, employees and communities. The transaction meets all of our criteria for an acquisition, will be immediately accretive to earnings and provides a strong core deposit base. Community Bank & Trust also has excellent asset quality and the No. 1 deposit market share in a growing county in the Nashville MSA. The proposed acquisition adds four branches in Cheatham County, which is contiguous to our existing Nashville market, and expands our offices and market penetration in Robertson County, another strong market for Reliant.”