South Georgia Holding Co. in Omega is acquiring the $134 million-asset Community National Bancorp of Ashburn for $29.5 million.
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The deal, announced Thursday, would bring the $180 million-asset South Georgia into neighboring Turner and Crisp counties with three branches. This would be the first acquisition for South Georgia in at least a decade.
The announcement was made in a preliminary letter of intent. South Georgia said that the price could be lowered before the deal closes.
