Heritage Financial Group, Inc. to Submit Alarion Acquisition to Its Stockholders for Approval

ALBANY, Ga.--(BUSINESS WIRE)--Heritage Financial Group, Inc. (“Heritage” or the “Company”) (NASDAQ: HBOS), the holding company for HeritageBank of the South (“HeritageBank”), today announced that the Company has been informed by NASDAQ that its pending acquisition of Ocala-based Alarion Financial Services, Inc. (“Alarion”), the holding company for Alarion Bank, must be submitted for approval by the Company’s stockholders. The Company intends to proceed expeditiously to schedule a special meeting of its stockholders and does not anticipate any difficulties in obtaining a favorable vote on the merger. Alarion shareholders have approved the Merger, and the Company has received regulatory approvals from all three of its banking regulators. The Company still expects to complete the transaction well within the contractual timeframe.