BofA to Sell 13 Branches to South State Bank


bofa south statesSouth State Corp. said today that it plans to purchase 12 S.C. branch locations and one Georgia branch location from Bank of America.

The deal will give South State entry into six new markets and three existing markets that the company already serves, the Columbia-based company said.

The acquired branches are located in Florence, Greenwood, Orangeburg, Sumter, Newberry, Batesburg-Leesville, Abbeville and Hartsville, as well as Hartwell, Ga.

The acquisition will place South State among the top 10 banks in market share in all the markets, and South State anticipates it will assume about $580 million in deposits and purchase approximately $3 million in loans from the acquisition.



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