Hamilton State Bank Announces Personnel Changes

Hamilton State Bank has announced personnel changes at its newest branches, formerly McIntosh State Bank, which were acquired from the Federal Deposit Insurance Corporation on June 17.

Bruce Bartholomew has been named the new Market President for Hamilton State Bank’s South Region, and William K. “Pete” Malone will continue with the bank in a business development role.

“Involved in community banking their entire careers, Bruce and Pete have developed extensive ties to the community and are committed to our customers,” Hamilton State Bank Chairman and CEO Robert Oliver said.

“With their guidance in our South Region, we expect Hamilton State Bank to be a leader in our new market.”

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Mr. Bartholomew, a longtime banker in the area and former President and COO of McIntosh State Bank, will manage the day-to-day operation of the branches in Jackson, McDonough, Monticello and Locust Grove.

Mr. Malone, who previously served McIntosh State Bank as chairman for 11 years and CEO for 35 years, will now assume a business development role and serve as a community ambassador for Hamilton State Bank on a reduced time basis.

“The last few years have been difficult for so many people in our community and around the state, and leading McIntosh State Bank through this tumultuous period took time away from my family,” Mr. Malone said. “With this change, I’m taking the opportunity to spend more time with my family and friends and am dedicated to helping grow Hamilton State Bank in the markets we serve.”

In addition to the new roles for Mssrs. Bartholomew and Malone, Hamilton State Bank has promoted Rob Beall to Senior Credit Officer. Mr. Beall has worked for six years as a loan officer in the McDonough branch and will have offices in both the Jackson and McDonough branches moving forward.

Based in Braselton, Hamilton State Bank, a wholly owned subsidiary of Hamilton State Bancshares, Inc., focuses on conservative and sound banking practices.

“From the customer’s perspective, what has changed is that they now are customers of one of the strongest and highest capitalized community banks and bank holding companies in the state,” Mr. Oliver said. “While there may have been some uncertainty about the future of the former McIntosh State Bank, Hamilton State Bank customers in Jasper, Butts and Henry counties are now banking with a stable, community-focused financial institution.

“We are a Georgia-based community bank with an executive team that has banked in markets like this one throughout our entire banking careers.”

“Hamilton State Bank has a similar customer service philosophy to McIntosh State Bank—we will continue to be responsive to questions and provide full access to management,” Mr. Bartholomew said. “Hamilton State Bank is committed to our community and growing our community, and we are excited to be part of this new team.”

Earlier this year, Hamilton State Bank completed a private offer and sale of common stock and securities convertible and exercisable into common stock that together resulted in proceeds of approximately $231.6 million, making it one of the most capitalized banks in the state. Hamilton State Bank has approximately $1.012 billion in total assets, $806 million in deposits, and $138 million in total capital.

In April, Hamilton State Bank became just the third bank in Georgia to complete the repayment of its Troubled Asset Relief Program to the U.S. Treasury Department. With the infusion of capital and having paid off its TARP funds, Hamilton State Bank began working with the FDIC to acquire failed or distressed depository institutions in Georgia through FDIC-assisted transactions.

On April 15, Hamilton State Bank acquired Cartersville-based Bartow County Bank’s four branches in Bartow and Cobb counties, forming its new West Region. The bank’s East Region is centered at its Braselton headquarters and consists of branches in Barrow, Hall, Forsyth and Jackson counties.