Tupelo Based Bank Buys Georgia Bank

TUPELO, Miss. (AP) – Shareholders of Renasant Bank of Tupelo have approved the purchase of HeritageBank of the South, based in Albany, Georgia, in an all-stock deal.

Shareholder approval came Tuesday.

The merger will move Renasant into southern Georgia and northern Florida for the first time and slightly bolster the bank’s position in the Atlanta and Birmingham, Alabama, markets.

Renasant announced the merger agreement in December.

The merger is expected to be completed on July 1, and it would be Renasant’s largest acquisition in its 111-year history.

Heritage brings about $1.9 billion in assets, bringing Renasant’s total to $7.5 billion. It has offices in Mississippi, Alabama, Tennessee, Georgia and Florida.

The merger also adds about 600 employees at 36 banking locations, 21 mortgage offices and five investment offices.

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