N.Y.'s Evergreen Bancorp Sells Golf Course

GLENS FALLS, N.Y. - Evergreen Bancorp has sold the Hiland Golf Club to Family Golf Centers Inc. of Melville, N.Y., for an undisclosed price.

The sale included the golf course, clubhouse, and the banquet and golf maintenance facilities. The bank still owns about 500 acres surrounding the club, but officials hope the sale of the club itself will make the rest of the property more marketable.

Evergreen foreclosed on the club a year ago.

The $852 million-asset bank had nonperforming loans of $19.6 million at March 31 and real estate owned of $10.3 million.

Family Golf Centers said the club is open and will honor all commitments for the facilities.

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