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
Xiaomi Corp., nicknamed the "Apple of China" is planning to launch laptops, a report by Bloomberg said. The Chinese brand has been pausing a direct challenge to major smart phone brands in Asian markets in the recent years. It has planned to win over China, India and Brazil markets those together would account for one third of the worldwide sales. Value-priced fashion apparel and accessories retailer Cato Corp. (CATO) Thursday announced a four percent increase in comparable store sales for August. Sales were for the four week period was up five percent to $67 percent from $63.6 million last year. For the thirty weeks ended August 29, the... Simple, uncluttered, colorful and friendly. That's how Google describes its new logo. The new typeface is sans-serif and without any shadow or embossing, unlike its earlier logos. It has given blue, red, yellow and green to its letters. The "e" is slightly tilted and stylized. On its browser tabs, it has replaced the lower case blue colored "g" with an upper case "G" in four colors.
comments powered by Disqus
Follow RTT