HeritageBank of the South Agrees to Purchase Assets and Assume Deposits of First Southern National Bank of Statesboro, Georgia, in an FDIC-Assisted Transaction

ALBANY, Ga.--(BUSINESS WIRE)--Heritage Financial Group, Inc. (the "Company") (NASDAQ: HBOS), the holding company for HeritageBank of the South (the "Bank"), today announced that the Bank has entered into a definitive whole-bank purchase and assumption agreement with the Federal Deposit Insurance Corporation (the "FDIC") to acquire substantially all of the assets and assume substantially all of the deposits of First Southern National Bank ("First Southern"), a full-service bank based in Statesboro, Georgia, with total assets of approximately $175 million. The Office of the Comptroller of the Currency today closed First Southern and appointed the FDIC as receiver.