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Georgia Bank & Trust parent to be acquired

Fri, 06/17/2016 - 9:31am

 

A quarter-century tradition in Au­gusta banking will come to an end early next year when the corporate parent of Georgia Bank & Trust Co., Southeastern Bank Financial Corp., gets folded into South Carolina’s largest bank holding company.

The local company that grew from a startup in 1989 to the metro area’s second-largest financial institution announced Friday that it would be acquired by Columbia-based South State Corp. in a stock deal valued at $334 million.

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