Mississippi-based regional bank OK'd to buy Georgia bank

TUPELO, Miss. (AP) - Officials say Renasant Bank of Tupelo has all the regulatory approvals it needs for its $258 million purchase of HeritageBank of the South, based in Albany, Georgia.

The Northeast Mississippi Daily Journal reports (http://bit.ly/1L9EwuK ) that sharholders of Renasant Corp. and Heritage Financial Group must still approve the deal, but that's considered a formality.

Renasant announced the merger agreement in December.

The merger is expected to be completed in the third quarter of this year. It would be the largest in Renasant's 111-year history.

Heritage brings about $1.9 billion in assets, bringing Renasant's total to $7.5 billion. It has offices in Mississippi, Alabama, Tennessee, Georgia and Florida.

The merger also adds about 600 employees at 36 banking locations, 21 mortgage offices and five investment offices.

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Information from: Northeast Mississippi Daily Journal, http://djournal.com