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CertusBank takes over another Ga. bank

Staff Report
Published Nov. 19, 2012

CertusHoldings Inc. announced Friday that its subsidiary CertusBank N.A., a nationally chartered bank, has taken over the deposits, some liabilities and purchased some assets of the Hometown Community Bank of Braselton, Ga., in an agreement with the Federal Deposit Insurance Corp.

At the close of business on Friday, Hometown Community Bank was closed by the Georgia Department of Banking and Finance. The FDIC was appointed receiver. At the same time, CertusBank took over the bank.

Customers will automatically become depositors of CertusBank. CertusBank representatives will be at both branches to assist customers with questions.

After this transaction, CertusBank expands its footprint across Georgia and maintains its assets at $1.8 billion.

Hometown Community Bank of Braselton operates two branch locations with assets of $125 million at the time of its closure by the FDIC. There is no loss-share arrangement with the FDIC in this transaction.

In January 2011, CertusBank acquired assets of CommunitySouth Bank & Trust of Easley, S.C. through a transaction with the FDIC. In May 2011, CertusBank also acquired assets of First Georgia Banking Co. and Atlantic Southern Bank. Today CertusBank operates 31 branches in South Carolina, North Carolina, Georgia, and Florida.

CertusBank plans to establish its corporate headquarters in the new development under construction at the site of the demolished Woolworth building at Main and Washington streets in downtown Greenville.

"The State of Georgia remains strategic to us. Our footprint covers some of the most economically diverse and promising markets in the country, and we enjoy being an integral part of the communities we serve," said CertusBank Executive Chairman Milton H. Jones Jr., whose 30-plus-year banking career includes serving as Georgia market president for Bank of America.

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