Millennium Bancshares, Inc., the Parent of Millennium Bank, and North Georgia Community Financial Partners, Inc., the Parent of North Georgia National Bank, Announce Merger Agreement
The strategic merger is expected to enhance community banking services across North Georgia and Tennessee
Chattanooga, Tenn. — June 10, 2025 — Millennium Bancshares, Inc. (“Millennium” or the “Company”), the holding company for Millennium Bank, soon to be known as M.A.C. A Millennium Bank, is a leading community-focused financial institution headquartered in the greater Chattanooga, Tennessee area. Millennium Bank is pleased to announce it has entered into a definitive merger agreement to acquire North Georgia Community Financial Partners, Inc. (“NGCFP”), the holding company for North Georgia National Bank (“NGNB”) based in Calhoun, Georgia. This strategic acquisition will expand Millennium Bank’s footprint into North Georgia, strengthening its commitment to delivering personalized banking solutions to individuals and businesses across the region.
Under the terms of the merger agreement, North Georgia National Bank will merge into Millennium Bank, which is controlled by the DeFoor Family. The merger will reunite the DeFoor Family back to their roots in the Calhoun community. Moreover, the merger unites two institutions that share a deep commitment to community banking and customer service. The combined entity will offer an expanded suite of financial products and services, supported by a robust network of branches and experienced banking professionals.
“This partnership represents a significant milestone in our growth strategy,” said Michael Rouse, President of Millennium Bank. “North Georgia National Bank has built a strong reputation for exceptional customer service and community involvement. By joining forces, we will enhance our ability to serve our customers with a broader range of financial solutions while maintaining the personalized service they have come to expect.”
Lesa C. Downey, President and CEO of North Georgia National Bank, echoed the enthusiasm for the merger. “We are excited to become part of the Millennium Bank family,” said Downey. “Our shared values and commitment to community banking make this a natural fit. This merger will provide our customers with access to additional resources and services, while preserving the local decision-making and personalized attention that are the hallmarks of our bank.”
The proposed merger has been approved unanimously by each company’s Board of Directors and is expected to close in the fourth quarter of 2025, subject to the receipt of regulatory approvals and other customary closing conditions.
Upon completion, the combined institution will operate under the Millennium Bank name, with Lesa Downey joining Millennium Bank’s leadership team to ensure a seamless integration and continued focus on customer service.
Customers of both banks can expect to receive timely updates and communications throughout the integration process. Both institutions are committed to making the transition as smooth as possible, with no immediate changes to existing accounts or services.
Miller & Martin, PLLC served as Millennium’s legal advisor. Baker, Donelson, Bearman, Caldwell, & Berkowitz, PC served as NGCFP’s legal advisor.
About Millennium Bank
Millennium Bank is a community-focused financial institution headquartered in Ooltewah, Tennessee. Millennium Bank opened for business on June 21, 1999 with a commitment to personalized service and local decision-making. Millennium Bank offers a full range of banking products and services to individuals and businesses throughout East Tennessee, Northern Florida, and the surrounding regions. Additional information about Millennium Bank can be found on its website which can be accessed at www.millenniumbank.com.
About North Georgia National Bank
North Georgia National Bank, based in Calhoun, Georgia, is a locally owned and operated bank dedicated to serving the financial needs of its community. NGNB opened its doors on February 10th, 1999 and is known for its exceptional customer service and community involvement. NGNB recently received two 2024 Calhoun Magazine Reader’s Choice Awards: Best Bank and Best Mortgage Company. NGNB offers a comprehensive suite of banking services to individuals and businesses in North Georgia. Additional information about North Georgia National Bank can be found on its website which can be accessed at www.ngnb.bank.
Media Contact:
Brandon Deering
Executive Vice President and Director of Strategic Planning
Email: brandond@millenniumbank.com
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