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Heritage Bank buying two branches in Glynn Co.
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The Heritage Bank announced Monday that it has signed an agreement to acquire the two Glynn County branches of Security Bank.
The proposed transaction is subject to certain conditions of closing including regulatory approval. The branches are at 103 Scranton Connector in Brunswick and at 106 Retreat Plaza on St. Simons Island. Heritage currently has one branch in Brunswick at 150 Altama Connector and 29 other branches throughout Southeast Georgia.   
Heritage anticipates finalizing the acquisition in the second quarter of 2009, when the Security Bank branches will become branch offices of Heritage. The new clients will then have access to Heritage’s network of branches and ATMs. Management of both banks has pledged to work toward a smooth transition.  
“This is truly a great opportunity for us to expand The Heritage Bank’s footprint in Glynn County,” Heritage’s President and CEO James M. Floyd Jr. said. “We are pleased to bring our client-focused, community-based approach to our new Glynn County clients. We are excited that Security Bank’s employees will be joining our team and offering our brand of service and convenience, which we believe complements the strong client service they were accustomed to with Security Bank.”
The Heritage Bank is a subsidiary of Liberty Shares, Inc. and currently has 30 branches in 15 counties in Southeast Georgia as well as a brokerage and financial services subsidiary, The Heritage Group. At the end of 2008, Heritage had approximately $768 million in assets.
The details of the Glynn County transaction were not revealed.
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