Affinity Bancshares, Inc. has acquired Affinity Bancshares, Inc. for an undisclosed amount, marking a significant corporate transaction that formalizes a strategic reorganization within the financial services sector. This move consolidates the holding company structure for Affinity Bank, a federally chartered stock savings association.
The acquiring Affinity Bancshares, Inc. is a Maryland corporation that was incorporated in September 2020. It was established to be the successor holding company for Affinity Bank, which is headquartered in Covington, Georgia. Affinity Bank, formerly known as Newton Federal Bank, traces its origins to a Georgia-chartered mutual building and loan association founded in 1928. The acquired entity, also named Affinity Bancshares, Inc. for the purpose of this transaction, was the former mid-tier holding company for Newton Federal