Dorminey also pointed out that the Company's expansion to Valdosta ties nicely with recent efforts to expand the Bank's footprint between Albany and Ocala. In May 2010, the Company acquired five bank branches in Georgia, including one in Adel, and in December 2009, it acquired a branch in Lake City, Florida. The establishment of a market presence in Valdosta continues the build out of this corridor. Cumulatively, the Company has acquired eight branches since December 2009, which together with the new LPO in Valdosta and the completion of a planned new branch in Lee County, Georgia – north of Albany, will result in a doubling of the number of HeritageBank of the South locations during the past year.Heritage Financial Group is the mid-tier holding company for HeritageBank of the South, a community-oriented bank serving primarily South Georgia and North Central Florida through 15 full-service banking offices and one loan production office. As of March 31, 2010, the Company reported total assets of approximately $574 million, total stockholders' equity of approximately $62 million and a total risk-based capital ratio of 16.6%.
Heritage Financial Group Enters The Valdosta, Georgia Market With Three New Hires
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