Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) Files An 8-K Completion of Acquisition or Disposition of Assets

Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01.

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Completion of Acquisition or Disposition of Assets.

On April 5, 2019, Atlantic Capital Bank, N.A., the wholly-owned subsidiary of Atlantic Capital Bancshares, Inc. (the “Company”), completed the previously announced sale (the “Branch Sale”) of 14 bank branches located in Tennessee and northwest Georgia (the “Branches”), including its mortgage banking business, to FirstBank, the wholly-owned subsidiary of FB Financial Corporation (“FirstBank”).

In connection with the Branch Sale, FirstBank assumed approximately $598 million in deposits and purchased approximately $385 million in loans associated with the Branches, and acquired certain other assets and assumed certain other liabilities related to the Branches. FirstBank paid a deposit premium equal to 6.25% of the balance of assumed deposits, less a discount of 0.68% of purchased loans.

The foregoing description of the Branch Sale does not purport to be complete and is qualified in its entirety by reference to the Purchase and Assumption Agreement, dated as of November 14, 2018, a copy of which was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 14, 2018 (the “Prior Form 8-K”). The information set forth in Item 1.01 of the Prior Form 8-K is incorporated into this Item 2.01 by reference.

On April 8, 2019, the Company issued a press release announcing the completion of the Branch Sale, which is attached as Exhibit 99.2.

Item 9.01.

Financial Statements and Exhibits.

(a)

Financial statements of businesses acquired. Not applicable.

(b)

Pro forma financial information.

The Unaudited Pro Forma Financial Statements of Atlantic Capital Bancshares, Inc. reflecting the completion of the Branch Sale are filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference:

(i)

Unaudited Pro Forma Consolidated Balance Sheet as of December 31, 2018.

(ii)

Unaudited Pro Forma Consolidated Statement of Operations for the year ended December 31, 2018.

(c)

Shell company transactions. Not applicable.

Atlantic Capital Bancshares, Inc. Exhibit
EX-99.1 2 ex991-projectblueproformaf.htm EXHIBIT 99.1 Exhibit ATLANTIC CAPITAL BANCSHARES,…
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About Atlantic Capital Bancshares, Inc. (NASDAQ:ACBI)

Atlantic Capital Bancshares, Inc. is the bank holding company for Atlantic Capital Bank (the Bank). The Bank operates as a full service, locally-managed commercial bank. The Bank provides an array of credit, treasury management and deposit products and services to growth businesses, middle market corporations, commercial real estate developers and investors, and private clients. Its wealth management division offers financial planning, trust administration, investment management, brokerage and estate planning services. It also provides selected capital markets, mortgage banking, and electronic banking services to its corporate, business and individual clients. Its private banking credit products include loans to individuals for personal and investment purposes, such as secured installment and term loans, and home equity lines of credit. Its specialty corporate financial services include payments industry banking, financial institutions banking and capital markets services.

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