Hamilton State Bank Announces Acquisition of Douglas County Bank

Media Release— Hamilton State Bank, a Georgia state bank based in Hoschton, announced today that it has acquired certain assets and deposits and other liabilities of Douglas County Bank, Douglasville, Ga., from the Federal Deposit Insurance Corporation (FDIC) in its capacity as receiver.

 

The acquisition was completed pursuant to a purchase and assumption agreement on April 26, 2013 following approvals by the Georgia Department of Banking and Finance and the FDIC. 

 

All locations of Douglas County Bank will open with normal business hours beginning on Saturday, April 27, 2013 under the name Hamilton State Bank.  Douglas County Bank customers may continue to conduct normal banking business and will have access to all of their accounts. In addition, all outstanding Douglas County Bank checks will be processed, and customers may continue to write Douglas County Bank checks and use their ATM and debit cards.  Douglas County Bank loan customers also should continue to make their regular payments. New and existing customers will receive additional information in the mail from Hamilton State Bank in the near future.

 

"We are a community bank that currently serves customers from 20 banking centers throughout Georgia," said Hamilton State Bank Chairman and CEO Robert Oliver. "We welcome our newest customers in Douglas and Paulding counties and we want to assure them that they will be served by the same friendly professionals at each of the Douglas County Bank branches in the days to come."

 

"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," Oliver added.

 

Led by an executive team with decades of community banking experience, Hamilton State Bank is a wholly owned subsidiary of Hamilton State Bancshares, Inc. The company focuses on conservative and sound banking practices.

 

In 2011, Hamilton State Bancshares, Inc. completed a private offering of its securities that resulted in proceeds of approximately $231.6 million making Hamilton State Bancshares, Inc. and Hamilton State Bank among the highest capitalized banking companies in the state of Georgia.

 

The acquisition solidifies Hamilton State Bank's position as a full-service bank offering a variety of services to its customers from its offices in Barrow, Bartow, Butts, Cobb, Hall, Henry, Forsyth, Jasper, Jackson and now Douglas and Paulding counties in Georgia. With the acquisition, Hamilton State Bank now has 24 branches and approximately $1.7 billion in total assets, $1.4 billion in deposits, and $219 million in total capital.  Hamilton State Bancshares, Inc., the parent of Hamilton State Bank, has approximately $276 million in total capital.