Georgia Department of Banking & Finance had shut down Douglas County Bank, Douglasville, Georgia, and appointed the FDIC as receiver to protect the depositors’ capital.
All branch locations of the acquired lender will open with normal business hours under new brand name and its depositors will automatically become depositors of Hamilton State Bank.
Until the completion of system conversion, customers of the acquired lender will remain using their current branch and will have access to all of their accounts facilities.
Commenting on the acquisition, Hamilton State Bank chairman and CEO Robert Oliver said that the customers will be served by the same friendly professionals at each of the Douglas County Bank branches in the future.
"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.
Established in 1974, Douglas County Bank managed three locations in Douglas County including Stewart Parkway and Fairburn Road in Douglasville, Skyview Drive in Lithia Springs, and one location in Paulding County on Hardee Street in Dallas.
The acquired lender had nearly $316.5m in total assets and $314.3m in total deposits, as of 31 December 2012.
