AloStar Bank of Commerce: Difference between revisions
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In January [[2015]], AloStar sold the [[Riverpoint building]] for $8 million to [[Grandview Medical Center]] and moved to the [[Grandview II]] building, also on [[Grandview Parkway]]. That March, Gillfillan retired as CEO and McGhee was named his successor as chief executive, while [[Richard G. Hickson]] replaced Gillfillan as chairman of the board. | In January [[2015]], AloStar sold the [[Riverpoint building]] for $8 million to [[Grandview Medical Center]] and moved to the [[Grandview II]] building, also on [[Grandview Parkway]]. That March, Gillfillan retired as CEO and McGhee was named his successor as chief executive, while [[Richard G. Hickson]] replaced Gillfillan as chairman of the board. | ||
In [[2017]], AloStar was acquired by State Bank and Trust of Atlanta, but retained its own branding. In [[2019]], State Bank merged with [[Cadence Bank]] and AloStar was rebranded as Cadence. | In [[2017]], AloStar was acquired by State Bank and Trust of Atlanta, but retained its own branding. In [[2019]], State Bank merged with [[Cadence Bank]] and AloStar was rebranded as "Cadence Business Finance". | ||
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Revision as of 14:18, 2 December 2020
AloStar Bank of Commerce was a bank located at 3595 Grandview Parkway off U. S. Highway 280.
AloStar was founded in 2011 by banking veterans Michael Gillfillan and Andrew McGhee, and purchased the majority of the assets from the failed Nexity Bank on April 15.
AloStar was primarily an Internet bank, with no traditional brick-and-mortar branches. It also served as a "banker's bank", providing services for small community banks.
In January 2015, AloStar sold the Riverpoint building for $8 million to Grandview Medical Center and moved to the Grandview II building, also on Grandview Parkway. That March, Gillfillan retired as CEO and McGhee was named his successor as chief executive, while Richard G. Hickson replaced Gillfillan as chairman of the board.
In 2017, AloStar was acquired by State Bank and Trust of Atlanta, but retained its own branding. In 2019, State Bank merged with Cadence Bank and AloStar was rebranded as "Cadence Business Finance".
References
- Cole, Antrenise (April 15, 2011) "Who is AloStar Bank of Commerce?" Birmingham Business Journal
- Davis, Bryan (January 15, 2015) "Trinity Medical Center buys Alostar building for $8 million." Birmingham Business Journal
- West, Ty (March 11, 2015) "AloStar Bank of Commerce names new CEO." Birmingham Business Journal
- Seale, Michael (June 15, 2017) "Atlanta-based bank announces acquisition of a Birmingham community bank." Birmingham Business Journal