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Heritage Banking acquisition unites family, old friends.

Article Excerpt
There is a feel-good story behind a recent bank acquisition in Carthage that goes like this: A group of investors, looking to start a new bank catering especially to under-served Mississippians, is approached about buying an unnamed, well-established bank instead. When the name of the bank is finally disclosed, the group is thrilled as several of its members, including its leader, already had a close personal and professional relationship with the bank and its senior management. With finalization of the transaction, the investors had their bank, the bank had an infusion of capital to fuel future growth and everybody, all family, friends and associates, is smiling.

This is the fairy tale-like story behind the acquisition of the Heritage Banking Group by the investors, known as First Heritage Corporation. The deal was finalized in March of this year, and the enthusiasm of First Heritage's leader, Dr. S.L. Sethi, president and CEO of Jackie's International, is matched only by Frank...

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