March 19 (Reuters) - Citizens South Banking Corp:
* Announces the acquisition of bank of hiawassee in fdic assisted transaction
and simultaneous completion of capital raise
* Announces the acquisition of bank of hiawassee in fdic assisted transaction
and simultaneous completion of capital raise
* Says fdic transaction will give it $300 million assets, including $227
million loans, and assuming of $324 million liabilities, including $295
million deposits, of hiawassee
* Says completes $15 million capital rise, including 1.5 million shares at
$4.50 each, plus $8.3 million issuance of mandatory convertible preferred
stock
* Says all hiawassee branches to reopen under their existing names as a
division of Citizens South Bank on Saturday or Monday
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Citizens South Banking Corp click here:) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Announces the acquisition of bank of hiawassee in fdic assisted transaction
and simultaneous completion of capital raise
* Announces the acquisition of bank of hiawassee in fdic assisted transaction
and simultaneous completion of capital raise
* Says fdic transaction will give it $300 million assets, including $227
million loans, and assuming of $324 million liabilities, including $295
million deposits, of hiawassee
* Says completes $15 million capital rise, including 1.5 million shares at
$4.50 each, plus $8.3 million issuance of mandatory convertible preferred
stock
* Says all hiawassee branches to reopen under their existing names as a
division of Citizens South Bank on Saturday or Monday
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Citizens South Banking Corp click here:) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.