HOSCHTON, Ga. (PRWEB) February 19, 2014
Hamilton State Bancshares, Inc. (“Hamilton”) and Hamilton State Bank have completed their acquisition of Cherokee Bank, N.A. that was announced on August 26, 2013. Since August, the two banks have worked together to combine under the Hamilton State Bank brand.
“We are pleased to be a part of Cherokee County and are looking forward to offering Hamilton State Bank products and services in the near future,” said Bob Oliver, Chairman and CEO of Hamilton State Bank. “It is business as usual. The customers of both banks will see the same friendly faces and receive the same high level of service they’ve come to expect. Product and service enhancements will be introduced as we complete our systems conversion scheduled in May.”
Hamilton has agreed to pay $4 per share for Cherokee Bank’s 2,131,639 shares of issued and outstanding common stock in an open-bank purchase. Cherokee Bank is the fifth bank acquisition for Hamilton State Bank in the last 34 months.
Hamilton State Bank is a full-service community bank that operates 27 branches in Barrow, Bartow, Butts, Cherokee, Cobb, Douglas, Hall, Henry, Forsyth, Jasper, Jackson and Paulding counties in Georgia. Led by an executive team with decades of community banking experience, Hamilton State Bank is a wholly owned subsidiary of Hamilton. The company focuses on conservative and sound banking practices. Hamilton and Hamilton State Bank are among the highest capitalized banking companies in the State of Georgia. Hamilton State Bank now has approximately $1.7 billion in total assets, $1.4 billion in deposits. Hamilton has $284 million in total capital. To learn more about Hamilton State Bank visit http://www.hamiltonstatebank.com.