Heritage Southeast Bancorporation, Inc. To Review Strategic Options
The Board of Directors of Heritage Southeast Bancorporation (HSBI) has initiated a review of strategic alternatives to enhance shareholder value, engaging Piper Sandler and Co. as financial advisor. No timeline is set for this evaluation, and there is no guarantee of a resulting transaction. The bank, with around $1.7 billion in assets, provides various commercial and consumer products through 23 locations. Forward-looking statements highlight potential risks and uncertainties related to this strategic review, with HSBI disavowing any obligation to update the statements.
- Engaged Piper Sandler as financial advisor to enhance shareholder value.
- No definite timetable for the completion of the strategic review.
- No assurance that the review will lead to a beneficial transaction.
ATLANTA, June 15, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Heritage Southeast Bancorporation, Inc. (“HSBI”) have initiated a formal review of strategic alternatives to enhance shareholder value. HSBI has engaged Piper Sandler and Co. as financial advisor to assist the Board of Directors of HSBI in connection with their review. No definite timetable has been set for the completion of this evaluation and there is no assurance that the process will lead to the pursuit, approval or completion of any transaction or other strategic initiative.
About Heritage Southeast Bancorporation, Inc. and Heritage Southeast Bank:
Heritage Southeast Bancorporation, Inc. serves as the holding company for Heritage Southeast Bank, which is headquartered in Jonesboro, GA and operates under the names “Heritage Bank,” “The Heritage Bank,” and “Providence Bank” in its various markets. With approximately
Forward Looking Statements:
This press release contains forward-looking statements. Forward-looking statements may be identified by terminology such as "may," "will," "should," "scheduled," "plans," "intends," "anticipates," "expects," "believes," estimates," "potential," or "continue" or negatives of such terms or other comparable terminology. All forward-looking statements in this press release, or in any other written or oral communication are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of HSBI to differ materially from any results expressed or implied by such forward-looking statements.
HSBI disclaims any obligation to update or revise any forward-looking statements contained in this communication (which statements speak only as of the date hereof), or in any other written or oral communication that relates to the proposed combination or to matters that may affect such proposed combination, whether as a result of new information, future events or otherwise.
Statements included in this press release, which are not historical in nature, are intended to be, and hereby are identified as, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will,” “may,” “anticipate,” “create,” “plan,” “expect,” “should,” and “could” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results. Such risks, uncertainties and assumptions, include, among others, the following:
Heritage Southeast Bancorporation, Inc. and its subsidiary disclaim any obligation to update or revise any forward-looking statements contained in this press release, which speak only as of the date hereof, whether as a result of new information, future events or otherwise, except as required by law.
| CONTACT | |
| Leonard A. Moreland | Philip F. Resch |
| Chief Executive Officer | Chief Financial Officer |
Heritage Southeast Bancorporation, Inc.
101 North Main Street
P.O. Box 935
Jonesboro, GA 30236
(770) 824-9934
FAQ
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