Hamilton State acquisition of Cherokee Bank, N.A. completed

HOSCHTON - Hamilton State Bancshares, Inc. ("Hamilton") and Hamilton State Bank have completed their acquisition of Cherokee Bank, N.A. that was announced last August. Since August, the two banks have worked together to combine under the Hamilton State Bank brand.

"We are pleased to be a part of Cherokee County and are looking forward to offering Hamilton State Bank products and services in the near future," said Bob Oliver, Chairman and CEO of Hamilton State Bank. "It is business as usual. The customers of both banks will see the same friendly faces and receive the same high level of service they've come to expect. Product and service enhancements will be introduced as we complete our systems conversion scheduled in May."

Hamilton has agreed to pay $4 per share for Cherokee Bank's 2,131,639 shares of issued and outstanding common stock in an open-bank purchase. Cherokee Bank is the fifth bank acquisition for Hamilton State Bank in the last 34 months.

http://accesswdun.com/article/2014/2/271312