Another institutional investor has joined the fray in the proxy battle at Georgia's largest thrift company - Bankers First Corp. - criticizing a company program that allows nine senior executives to buy stock with interest-free loans.

Selective Investors Partnership, which owns less than 1% of the company's stock, has proposed that the thrift's officers be prohibited from using the interest-free stock loan program and that all past loans should be repaid as soon as possible.

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