logo
Share SHARE
FONT-SIZE Plus   Neg

Heritage Financial Inks Pact To Acquire Single Branch From AB&T National Bank

Heritage Financial Group Inc (HBOS) Wednesday announced that it has signed a definitive agreement with the AB&T National Bank to purchase its single branch located at 1943, East Glenn Avenue, Auburn, Alabama.

The company did not divulge any other financial terms of the transaction.

The holding company for HeritageBank of the South, however, stated that the transaction is expected to close in the second quarter of 2012, subject to regulatory approval and other customary closing conditions.

The company further added that the employees currently working in the branch would be retained. The acquisition would result in the transfer of approximately $13 million in loans and approximately $20 million in deposits, including all demand deposits, savings accounts, money market accounts and certificates of deposit to the HeritageBank of the South.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
They say there's plenty of fish in the sea, but very few of them are as wealthy as these tycoons. May be they have been so busy building their empires they never had the time to stick with a perfect partner to build their family. This list of the richest singles is assorted — from a 34 year-old... Anthony Levandowski, the head of Uber's self-driving division, is stepping away from his role as Uber continues a legal battle with Waymo, Levandowski's former employer. Levandowski, who founded startup Otto, became head of Uber's Advanced Technologies Group or ATG after Otto was acquired by Uber in August 2016. Southwest Airlines Co. has decided to end the practice of overbooking flights, the airline's CEO Gary Kelly said Thursday. The airline's plan to end overbooking could be implemented from May 8, according to a Southwest spokeswoman.
comments powered by Disqus
Follow RTT