Two Georgia banks are merging.
The $192.8 million-asset Mount Vernon Bank is combining with the $23.8 million-asset Bank of Lumber City under the holding company Heart of Georgia Bancshares.
“We are excited [about] the possibility of getting into another hometown market,” Alan Thigpen, Mount Vernon Bank’s president and CEO, said in a press release. “We feel these markets are what is best suited for our banking strengths. This rural market falls right in line with where we want to be.”
Virginia Hand, Bank of Lumber City’s president and CEO, will retire.