BELZONI, MS: Guaranty Capital Corporation, the holding company for Guaranty Bank & Trust Company, announced today the completion of its agreement to acquire First Alliance Bancshares, Inc. and its banking subsidiary, First Alliance Bank.
Hue Townsend, President and CEO of Guaranty Bank, commented, “We are extremely pleased to partner with First Alliance Bank as they share our strong commitment to both the community and to our customers. This union will allow us to provide more robust products and services to the greater Memphis community.”
Guaranty Bank was advised in the transaction by The Bank Advisory Group, L.L.C. and the law firm of Hunton Andrews Kurth LLP. Olsen Palmer LLC served as First Alliance’s financial advisor while the firm of Daniel W. Small & Company served as First Alliance’s legal advisor.
Guaranty Bank’s mission is to set the standard in our communities for excellence in financial service products and their delivery, to strengthen the communities we serve, and to help improve the quality of life in those areas while realizing the greatest benefit for our shareholders, employees, and customers. Guaranty Bank was named “Best Place to Work” in 2018 and 2019 by the Mississippi Business Journal. Locally owned and operated since 1943, Guaranty Bank delivers top-notch services and products to Mississippi and the surrounding areas.
Founded in 1999, First Alliance Bank, a wholly owned subsidiary of First Alliance Bancshares, Inc., is a locally-owned community bank that provides a premier level of banking services to the greater Memphis community through 4 full-service locations including in Uptown, Clark Tower, Cordova, and Oakland. First Alliance was named “Best Bank” by The Commercial Appeal’s “Memphis Most” in 2019, the third year in a row, and was listed among The Commercial Appeal’s Top Workplaces in 2016 and 2017 as well as Memphis Business Journal’s Best Places to work in 2016, 2017, and 2018.