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Heritage Financial Group, Inc. Signs Definitive Agreement To Acquire Ocala-Based Alarion Financial Services, Inc.

Stocks in this article: HBOS

"As we look at this opportunity to continue to deploy capital, we see a good cultural and operational fit between our organizations, which should result in a smooth integration," Dorminey continued. "While the changes for Alarion's customers should be seamless, we think they will notice and welcome the additional products, services and resources that we will bring to these markets. We look forward to earning their confidence and loyalty."

Loralee Hutchinson, President of Alarion, added, "We are pleased to join forces with Heritage Financial Group to provide enhanced and long-term value to our customers and communities. Our combination with Heritage will provide greater capital resources and operational scale that will allow us to grow as part of a larger community bank, with more than $1.7 billion in total assets and the tools and resources to enhance long-term value for our shareholders."

SunTrust Robinson Humphrey served as financial advisor and Bryan Cave, LLP provided legal counsel to Heritage Financial Group. Banks Street Partners, LLC served as financial advisor to Alarion and has rendered a fairness opinion to its Board of Directors in connection with this transaction. Adams & Reese provided legal counsel to Alarion.


Heritage Financial Group will host a conference call with analysts today at 10:00 a.m. ET to discuss this transaction. The number to call for the interactive teleconference is (212) 231-2911. A telephonic replay of the conference call will be available from 12:00 p.m. ET on Tuesday, April 22, 2014, through 6:00 p.m. ET on Wednesday, April 23, 2014, by dialing (800) 633-8284 and entering confirmation number 21714335. A public, listen-only simulcast of the conference call, along with an investor presentation related to the transaction, may be accessed at the Company's web site, A 30-day online replay of the conference call will be available approximately an hour following the conclusion of the live broadcast. The investor presentation also will be available online at for a period of 30 days.


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