Atlantic Southern Bank Announces Expansion Into Florida
26 Septiembre 2007 - 4:54PM
PR Newswire (US)
MACON, Ga., Sept. 26 /PRNewswire-FirstCall/ -- Atlantic Southern
Financial Group (NASDAQ:ASFN) and its subsidiary, Atlantic Southern
Bank, have announced its expansion into the northeast region of
Florida. The company has plans to open its first branch in
Jacksonville by November 30th. "The move fits with our overall
strategy of increasing deposits in addition to increasing
shareholder value," said President and CEO Mark Stevens. Although
Atlantic Southern may be considered new to the Duval County,
Florida financial landscape, Stevens stated, "There are enough
assets and deposits to support the operation." He estimated the
area's growing deposit market to be nearly $28 billion. In August,
Atlantic Southern announced its intentions to purchase the charter
of CenterState Bank Mid Florida, a subsidiary of CenterState Banks
of Florida, Incorporated. At that time Stevens stated, "Buying the
charter was a quick and economical way to branch into Florida."
About Atlantic Southern Financial Group, Inc and Atlantic Southern
Bank With headquarters in Macon, Georgia, Atlantic Southern
Financial Group, Inc., operates nine banking locations in the
middle Georgia markets of Macon and Warner Robins and six locations
in the coastal markets of Savannah, Darien, Brunswick and St.
Simons Island, Georgia and a loan production office in Valdosta,
Georgia. The Company specializes in commercial real estate and
small business lending. Safe Harbor This news release contains
forward-looking statements, as defined by Federal Securities Laws,
including statements about financial outlook and business
environment. These statements are provided to assist in the
understanding of a future financial performance and such
performance involves risks and uncertainties that may cause actual
results to differ materially from those in such statements. Any
such statements are based on current expectations and involve a
number of risks and uncertainties. For a discussion of factors that
may cause such forward-looking statements to differ materially from
actual results, please refer to the section entitled "Forward-
Looking Statements" in Atlantic Southern Financial Group, Inc.'s
annual report filed on Form 10-K with the Securities and Exchange
Commission. DATASOURCE: Atlantic Southern Financial Group CONTACT:
Jean Stroud, or Mark A. Stevens, +1-478-330-5814, both of Atlantic
Southern Financial Group Web site:
http://www.atlanticsouthernbank.com/
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