On July 16, 2013, Reliance Trust Company, a subsidiary of Atlanta-based Reliance Financial Corporation, announced that, effective July 31, 2013, it will acquire West Palm Beach-based Grand Bank and Trust of Florida’s trust and asset management business.
On July 16, 2013, Reliance Trust Company announced that it will acquire Grand Bank and Trust of Florida’s trust and asset management business, effective July 31, 2013. Reliance Trust Company will take over the existing trust and asset management relationships of Grand Bank and Trust of Florida. Reliance Trust also announced that the two companies are entering into a long-term south Florida sales and marketing partnership to promote their trust and asset management services. The financial terms of the acquisition were not disclosed.
Grand Bank and Trust is a Florida owned and managed bank with approximately $230 million in assets.
To read the press release, please click here.