Georgia community banks CCF Holding Co., Heritage Bancorp. and Providence Bank completed their previously announced merger of equals on Sept. 1.
CCF was renamed Heritage Southeast Bancorporation Inc. after closing, and it started trading under the symbol HSBI on the OTCQX on Sept. 3.
Providence and the subsidiary banks of CCF and Heritage Bank were merged under the new name, Heritage Southeast Bank, but the combined bank will continue to operate under the "Providence," "Heritage Bank" and "The Heritage Bank" brand names. In addition, the same executive management teams will remain in place in their traditional markets of Alpharetta, South Atlanta and South Georgia/Northeast Florida, respectively.
Pursuant to the merger deal signed Dec. 20, 2018, each share of Heritage Bank common stock has been converted to a 0.9504 share of HSBI common stock; each share of Providence common stock was converted to a 0.1225 share of HSBI common stock; and each share of CCF common stock remains outstanding as a share of HSBI common stock.
