Mississippi Bank Purchases HeritageBank - MSNewsNow.com - Jackson, MS

Mississippi Bank Purchases HeritageBank

Renasant Bank of Tupelo has completed its purchase of HeritageBank of the South - based in Albany, Georgia . Renasant officials announced the completion of the merger in a news release Wednesday.

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.

The merger, which absorbs HeritageBank of the South into Renasant Bank, is valued at more than $250 million. With Heritage now under its umbrella, Renasant's total assets have grown to $7.5 billion.

Renasant now has 171 banking, mortgage, wealth management, investment and insurance offices throughout Mississippi, Tennessee, Alabama, Georgia and Florida.

Regulatory approval for the deal was given in March, and shareholders for the companies OK'd the deal two weeks ago.

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