Heritage Financial (HBOS) to Acquire Assets, Deposits of First Southern National Bank
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Heritage Financial Group, Inc. (Nasdaq: HBOS), has entered into a definitive whole-bank purchase and assumption agreement with the Federal Deposit Insurance Corporation to acquire substantially all of the assets and assume substantially all of the deposits of First Southern National Bank.
First Southern has total assets of approximately $175 million. In the acquisition, HeritageBank of the South will assume approximately $170 million in deposits and acquire $120 million in loans.
Sterne Agee acted as financial advisor to the Company in this transaction, while Silver, Freedman & Taff, L.L.P. served as legal counsel.
First Southern has total assets of approximately $175 million. In the acquisition, HeritageBank of the South will assume approximately $170 million in deposits and acquire $120 million in loans.
Sterne Agee acted as financial advisor to the Company in this transaction, while Silver, Freedman & Taff, L.L.P. served as legal counsel.
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