South State Corp to Take Over Bank America Branch in Hartwell

The Hartwell branch of Bank of America will soon have another name.

According to GSAbusiness.com, South State Corp has announced it plans to purchase 12 South Carolina branch locations and one Georgia branch location from Bank of America.

The deal will give South State entry into six new markets and three existing markets that the company already serves, the Columbia-based company said.

The acquired branches are located in Florence, Greenwood, Orangeburg, Sumter, Newberry, Batesburg-Leesville, Abbeville and Hartsville, as well as Hartwell, Ga.

The acquisition will place South State among the top 10 banks in market share in all the markets, and South State anticipates it will assume about $580 million in deposits and purchase approximately $3 million in loans from the acquisition.

Pending regulatory approval, South State expects to close on the deal in the third quarter.

South State said it will hire all current employees at each of the acquired branches and is committed to a smooth customer transition.