A small metro Atlanta bank that recently received $231 million in new investor cash announced Wednesday it has paid off the government aid it received during the financial shock.
Hamilton State Bancshares, parent of Hamilton State Bank, said it repaid the nearly $7.4 million it received under the Troubled Asset Relief Program. It is the third bank in Georgia to do so after Atlanta-based Georgia Commerce Bank and SunTrust Banks.
Hamilton State operates branches in Barrow, Hall, Forsyth and Jackson counties.
Earlier this year, Hamilton State sold stock to investors, including $60 million each to two New York investment houses. The bank plans to become a buyer of failed and distressed Georgia banks.
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