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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of
the Securities Exchange Act of 1934
October 21, 1996
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(Earliest Event Reported)
Newnan Holdings, Inc.
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(Exact Name of Registrant as
Specified in its Charter)
Georgia 333-4304 58-2232785
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(State or other jurisdiction (Commission File No.) (IRS Employer
of Incorporation) Identification Number)
19 Jefferson Street, Newnan, Georgia 30263
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(Address of principal executive offices)
(770) - 253 - 5017
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(Registrant's Telephone Number)
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On October 21, 1996, Newnan Holdings, Inc. ("Company") announced that
it had signed a letter of intent to merge with Tara Bankshares Corporation
("Tara"). The proposed acquisition is subject to execution of a definitive
agreement and appropriate corporate shareholder and regulatory approvals. The
subsidiary of Tara, Tara State Bank, will continue to operate as a separate
state-chartered commercial bank.
Newnan Holdings, Inc. is based in Newnan, Georgia and is the parent
company of Newnan Savings Bank, FSB and Citizens Bank & Trust of Fayette County.
Newnan Holdings has assets of $260 million and operates offices in Coweta,
Fayette, Henry and Troup Counties, Georgia. Tara Bankshares Corporation is
based in Riverdale, Georgia, and is the parent company of Tara State Bank which
has $60 million in assets and two offices in Clayton County.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits - Index
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99 - Registrant's press release, dated October 21, 1996....Page 4
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, Registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NEWNAN HOLDINGS, INC.
Dated: November 6, 1996 By: /s/ Douglas J. Herth
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Douglas J. Hertha
Vice President
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Exhibit 99
NEWNAN HOLDINGS, INC.
P.O. BOX 400
NEWNAN, GEORGIA 30264
770-304-7717
Contacts: Tom Moat
Newnan Holdings, Inc.
770-304-7717
Charles Barnes
Tara Bankshares Corporation
770-996-8272
NEWNAN HOLDINGS, INC., TARA BANKSHARES CORPORATION TO MERGE
Will Create $320 million-asset South Metro Community Bank
NEWNAN, October 21, 1996 - Tom Moat, President and Chief Executive Officer of
Newnan Holdings, Inc., and Charles M. Barnes, President and Chief Executive
Officer of Tara Bankshares Corporation, announced today that a Letter of Intent
has been signed for the two companies to merge.
The combination, which is contingent on both companies completing due diligence
and regulatory and shareholder approvals, would create a $320 million-asset
financial institution with offices in five south metropolitan Atlanta counties.
The transaction, terms of which were not disclosed, is expected to be finalized
by the end of January 1997.
Newnan Holdings, Inc. was formed in August 1996 and is the parent company for
Newnan Savings Bank and Citizens Bank & Trust of Fayette County. The two banks
have $260 million is assets and nine offices in Coweta, Fayette, Henry and Troup
counties. Newnan Savings Bank was founded in 1927, and Citizens Bank & Trust
was founded in 1990.
Riverdale-based Tara Bankshares Corporation, the holding company for Tara State
Bank, has $60 million in assets and two offices in Clayton County. The holding
company was founded in 1987, and the bank was founded in 1983.
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"We like Tara'a market presence, its reputation for outstanding service, and its
close community ties and leadership", said Tom Moat. "Together we will be a
stronger and better financial institution than we can be separately. Even as we
grow larger," Mr. Moat added, "we will provide home-grown, close-to-the-customer
service. We are right here, living and working in the community. You won't need
a 1-800 number to reach your banker."
Said Charles Barnes of Tara, "Newnan Holdings is one the premier Georgia-based
financial institutions. This is a great opportunity to increase our resources
and improve service while still making every decision locally, not in some other
state."
Mr. Moat and Mr. Barnes emphasized that Newnan Savings Bank, Citizens Bank &
Trust, and Tara State Bank will each have their own boards of directors with
full decision-making authority.
"Unlike too many of our competitors, we are keeping close, grassroots ties," Mr.
Moat said. "Our directors will help keep us keenly aware of the issues and needs
in our communities so we can help them grow, and grow with them."
Communities that the combined banks will serve include Fayetteville, Peachtree
City, LaGrange, Newnan, Jonesboro, Riverdale, Hogansville and Stockbridge.
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