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South State Corp. is affairs 12 Coffer of America branches mostly in South Carolina, including locations in Batesburg-Leesville, Newberry and Sumter, the aggregation appear Wednesday.
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Other sites actuality purchased are in Orangeburg, Florence, Hartsville, Abbeville and one in Hartwell, Ga.
The acquirement amount is about $31.6 million, the aggregation said.
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Six of the branches are in areas area South State does not accept a presence, including Batesburg-Leesville, a boondocks on the western end of Lexington County, said South State arch controlling administrator Robert R. Hill, Jr.
Overall, the purchase, accomplished in assumption Tuesday, brings South State’s Midlands attendance on a afterpiece par to its branches in the Lowcountry and the Upstate, Hill said. “This gives us a stronger attendance in axial South Carolina,” he said. “It circuit out the attendance we already accept about South Carolina.”
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With this purchase, South State has 104 branches in the Palmetto State, 26 in Georgia and nine in North Carolina, the aggregation said.
Pending authoritative approval, the about-face is to be completed during the third division of the year, said Hill, whose bank’s assets are about $8 billion.
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South State buying Bank of America's local business | News ... | south state bank orangeburg scImage Source:
South State will appoint all the advisers currently alive at the Coffer of America branches, the aggregation said in a account absolution issued Wednesday.
The coffer already has three branches in the basic burghal area: Gervais Stree, Forest Drive and Clemson Road, Hill said. In Lexington County, South State branches are on Knox Abbott Drive, Sunset Boulevard in the boondocks of Lexington, Columbiana Drive abreast the bounded arcade mall, and anon Batesburg-Leesville.
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