The parent company of HeritageBank of the South in Albany, Ga., announced a deal Thursday to acquire five branches from the Park Avenue Bank, which has struggled with credit-quality problems.

Heritage Financial Group, a $573.2 million-asset mutual holding company, will pick up $52 million of loans, $72 million of deposits and $26 million of certificates of deposits from the deal. HeritageBank said in a press release that it plans to retain all employees from the Park Avenue branches. The deal is expected to close in the second quarter.

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