0

Hamilton State Bank acquires Stockbridge bank

Hamilton State Bank, a Georgia banking institution based in Braselton, has acquired certain assets and deposits and other liabilities of The First State Bank of Stockbridge, from the Federal Deposit Insurance Corporation (FDIC) in its capacity as receiver.

Starting Saturday, temporary, red-and-blue signs will replace existing signs at the seven different branches of The First State Bank throughout Henry County, according to Ginger Long Hubbard, vice president of marketing and sales for Hamilton State Bank.

She said Hamilton State Bank officials will be at all branches of the former First State Bank, in Stockbridge, on Saturday.

“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,” said Hamilton State Bank Chairman and CEO Robert Oliver, on Friday.

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.

Hamilton State Bancshares, Inc., and Hamilton State Bank are among the highest capitalized banking companies in the state of Georgia, Hubbard reported.

The acquisition means the bank has full-service offerings to its customers in Barrow, Bartow, Butts, Cobb, Hall, Henry, Forsyth, Jasper and Jackson counties in Georgia. Hamilton acquired Henry County’s McIntosh State Bank last year, which had offices in Locust Grove and McDonough.

“This is an FDIC [Federal Deposit Insurance Corporation] assisted acquisition, so this is something we participated in with them to take ownership of the bank,” Hubbard said.

The acquisition was completed pursuant to a purchase and assumption agreement on Jan. 20, following approvals by the Georgia Department of Banking and Finance and the FDIC, said Hubbard. “We have been growing a lot. People in the area will be familiar with McIntosh Bank ...”All locations of The First State Bank that offer Saturday banking hours will open with normal business hours, beginning on Saturday, Jan. 21, under the name Hamilton State Bank, and all other locations will open with normal hours on Monday, Jan. 23, under the name Hamilton State Bank.

“We are a community bank that currently serves customers in Henry County and surrounding areas,” said chairman and CEO 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.”

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, said Hubbard.

To learn more about Hamilton State Bank, visit www.hamiltonstatebank.com.