Heritage Financial Group 8-K 2008
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01. OTHER EVENTS.
On March 28, 2008, issued a press release announcing that the Company will reduce its planned investment in Chattahoochee Bank of Georgia, a new bank being organized in Gainesville, Georgia. In November 2007, the Company announced that it expected to invest up to approximately $3 million in the new bank, which would have given Heritage Financial Group an ownership position of slightly less than 15%. However, in light of regulatory considerations, Heritage Financial Group now expects to limit its investment to slightly less than 5%, representing an investment of approximately $1 million. Heritage Financial Group's investment in Chattahoochee Bank of Georgia remains subject to regulatory approval and several conditions, including the approval of a charter application with state and federal banking regulators, the bank's commencement of operations, the bank meeting a minimum capitalization level and other customary conditions. The full text of the press release is set forth in Exhibit 99.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.