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CertusBank acquires assets of Northern Florida institution

STAFF REPORTS
Published on Wednesday, November 9, 2011

CertusBank is accelerating its expansion into Northern Florida through the acquisition of assets purchased from First Guaranty Bank.   The Greenville-based bank announced the deal, which includes $96 million in loans, $211 million in deposits, 7 branches and its Trust Division.  The deal excludes all of First Guaranty's non-performing and other criticized assets.

First Guaranty Bank, (known as) Jacksonville's oldest bank has had more than 60 years of service.  “This acquisition is a key component to our long term growth strategy in the Jacksonville market,” says Charlie Williams CertusBank's Vice Chairman.  “We were impressed with their focus on the customer and community, it aligns nicely with the CertusBank model.”

The employees of the acquired seven retail branches and trust company will become employees of CertusBank.

CertusBank recently acquired the franchises of the former CommunitySouth, First Georgia and Atlantic Southern Bank.

The deal is pending regulatory approval.

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