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Habersham Bank purchased by South Carolina Bank & Trust Co.

Habersham Bank in Warrenton was closed Feb. 18 by the Federal Deposit Insurance Corp., but bank officials say business will go on as usual.

Bank Vice President Don Wren said that after the FDIC came in that Friday and took over, the bank was immediately bought by South Carolina Bank & Trust Co.

The Presidents Day holiday weekend gave the bank an extra day to reorganize, and bank customers were able to come in the next Tuesday as if nothing had happened.

"Customers will not see any difference," Mr. Wren said.

Although it is now an affiliate of South Carolina Bank & Trust, Habersham Bank will retain its name for the time being. Mr. Wren did say that a name change is possible.

"It looks like it will be for the betterment of everybody," he said of the change in ownership.

The reason for the FDIC's seizure of the bank has not been made public.

Web posted on Thursday, March 03, 2011

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