Savannah River Banking Co. completes merger with Columbia bank

Monday, Feb. 3, 2014 1:07 PM
Last updated Tuesday, Feb. 4, 2014 12:25 AM
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Savannah River Banking Co. opened Monday as First Community Bank after shareholders last week approved the merger of the Augusta-Aiken bank with the publicly-traded Columbia-based First Community.

Signage on the bank’s Walton Way Extension branch has already been changed.

The merger between the two banks was announced in August. First Community acquired Savannah River with $33 million in cash and stock.

“This is a comfortable extension of our company into a contiguous county, and beyond into Augusta. The Central Savannah River Area and the midlands of South Carolina have many economic similarities, and both are experiencing nice momentum in business growth,” said First Community President and CEO Mike Crapps.

Crapps said it is likely there will be hiring in Augusta to have additional mortgage orginators and financial planners.

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