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Bank of Forest closes Bank of Walnut Grove acquisition

In Mississippi, Forest-based Bank of Forest has acquired Walnut Grove-based Bank of Walnut Grove.

The merger took effect Sept. 30. Conversion is expected to finish near the end of the first quarter of 2018. Carl Ware will continue managing the Walnut Grove office and will join Bank of Forest's board.

Bank of Forest had $160.3 million in assets as of June 30; Bank of Walnut Grove had $58.5 million. Bank of Forest is a subsidiary of First Forest Corp.