Heritage Financial Group reorganizes - WALB.com, South Georgia News, Weather, Sports

Heritage Financial Group reorganizes

By Jennifer Emert - bio | email

ALBANY, GA (WALB) –  A growing southwest Georgia bank will offer more shares of stock for sale as part of a reorganization plan.

Heritage Financial Group, the holding company for HeritageBank of the South, is changing from a two-tier mutual holding company to a full stock holding company. Customers using the bank won't see any change in service. But HeritageBank of the South will become a wholly owned subsidiary of Heritage Financial Group which will offer new shares of common stock. The changes will allow the bank to add capital and continue its growth.

"This step will enhance our ability to look for new growth opportunities as well as position us for better growth in the future," said Mary Beth Hobby, HeritageBank Marketing Director.

The reorganization and conversion plan will be submitted to the Office of Thrift Supervision and the Georgia Department of Banking and Finance for approval.


©2010 WALB News. All rights reserved.   Feedback

 

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • The Latest: Irma weakens into a tropical depression

    The Latest: Irma weakens into a tropical depression

    Monday, September 11 2017 3:27 AM EDT2017-09-11 07:27:29 GMT
    Tuesday, September 12 2017 2:42 AM EDT2017-09-12 06:42:09 GMT
    Irma weakened to a Category 1 storm as the massive hurricane zeroed in on the Tampa Bay region early Monday after hammering much of Florida with roof-ripping winds, gushing floodwaters and widespread power outages.More >>
    Irma weakened to a Category 1 storm as the massive hurricane zeroed in on the Tampa Bay region early Monday after hammering much of Florida with roof-ripping winds, gushing floodwaters and widespread power outages.More >>
  • Sisters face drug charges in Coffee Co.

    Sisters face drug charges in Coffee Co.

    Tuesday, September 19 2017 10:44 AM EDT2017-09-19 14:44:52 GMT
    (Source: Coffee Co. Sheriff)(Source: Coffee Co. Sheriff)

    Krystel Merritt and Christina Maria Lott of Douglas are behind bars at the Coffee County Jail following a lengthy investigation by drug agents. 

    More >>

    Krystel Merritt and Christina Maria Lott of Douglas are behind bars at the Coffee County Jail following a lengthy investigation by drug agents. 

    More >>
  • Albany Target to hire seasonal employees soon

    Albany Target to hire seasonal employees soon

    Tuesday, September 19 2017 5:33 AM EDT2017-09-19 09:33:16 GMT
    (Source: WALB)(Source: WALB)

    Nationwide, the company plans to hire 100,000 seasonal employees to help with the demand.

    More >>

    Nationwide, the company plans to hire 100,000 seasonal employees to help with the demand.

    More >>
Powered by Frankly