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South Banking's 4 subsidiary banks to merge

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South Banking's 4 subsidiary banks to merge

South BankingCo.'s subsidiary banks in Georgia are merging into one institution,which will have its headquarters in Alma, Ga., The Baxley News-Banner reported July 13.

The merger of Baxley-based ,Metter-based Pineland State Bank,Kingsland-based Citizens StateBank and Alma-based AlmaExchange Bank & Trust is expected to be completed at the end ofthe third quarter.

The combined bank will operate under the name Pineland Bank.Based on the banks' financials at the end of March, it will have about $280million in assets, $253 million in deposits, $171 million in loans and $28million in capital.