FOR IMMEDIATE RELEASE
Hamilton State Bank Announces Acquisition of The First State Bank
BRASELTON, Ga. (January 20, 2012) — Hamilton State Bank, a Georgia state bank based in Braselton, announced today that it has acquired certain assets and deposits and other liabilities of The First State Bank, Stockbridge, Ga., from the Federal Deposit Insurance Corporation (FDIC) in its capacity as receiver.
The acquisition was completed pursuant to a purchase and assumption agreement on January 20, 2012 following approvals by the Georgia Department of Banking and Finance and the FDIC.
All locations of The First State Bank that offer Saturday banking hours will open with normal business hours beginning on Saturday, January 21, 2012 under the name Hamilton State Bank, and all other locations will open with normal hours on Monday, January 23, 2012 under the name Hamilton State Bank. The First State Bank customers may continue to conduct normal banking business and will have access to all of their accounts. In addition, all outstanding The First State Bank checks will be processed, and customers may continue to write The First State Bank checks and use their ATM and debit cards. The First State Bank loan customers also should continue to make their regular payments. New and existing customers will receive additional information in the mail from Hamilton State Bank in the near future.
“We are a community bank that currently serves customers in Henry County and surrounding areas,” said Hamilton State Bank Chairman and CEO Robert Oliver. “We welcome our newest customers and we want to assure them that they will be served by the same friendly professionals at each of The First State Bank branches in the days to come. We appreciate the loyalty of The First State Bank customers and our plan is to enhance the high level of quality services to which they are accustomed.”
“Our goal is to have all Hamilton State Bank offices operating on the same system in the months to come in order to provide streamlined, consistent service to all our customers,” Oliver added.
Led by an executive team with decades of community banking experience, Hamilton State Bank is a wholly owned subsidiary of Hamilton State Bancshares, Inc. The company focuses on conservative and sound banking practices.
Hamilton State Bancshares, Inc. completed a private offering and sale of common stock and securities convertible and exercisable into common stock that together resulted in proceeds of approximately $231.6 million last year. Hamilton State Bancshares, Inc. and Hamilton State Bank are among the highest capitalized banking companies in the state of Georgia.
The acquisition solidifies Hamilton State Bank’s position as a full-service bank offering a variety of services to its customers from its offices in Barrow, Bartow, Butts, Cobb, Hall, Henry, Forsyth, Jasper and Jackson counties in Georgia. With the acquisition, Hamilton State Bank now has 21 branches and approximately $1.4 billion in total assets, $1.2 billion in deposits, and $193 million in total capital. Hamilton State Bancshares, Inc., the parent of Hamilton State Bank, has approximately $1.6 billion in total assets, $1.2 billion in deposits, and $255 million in total capital.
To learn more about Hamilton State Bank visit www.hamiltonstatebank.com.
For more information, contact:
Ginger Long Hubbard
Vice President, Marketing and Sales
Hamilton State Bank
Public Relations Account Executive
Morton Vardeman & Carlson