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United Bank acquires investment subsidiary in Jackson, not the failed bank

United Bank’s acquisition of McIntosh Financial Services of Jackson is not related to McIntosh State Bank’s failure. United Bank announced its acquisition of McIntosh Financial Services, formerly a subsidiary of McIntosh Bancshares, Inc. The Bank will operate the financial services company under the name McIntosh Financial Services (MFS) and has hired Alicia Washington as Investment Officer. Washington will relocate her office to United Bank’s Jackson banking office at 150 Covington Street effective immediately. At the time of the transaction, McIntosh Financial Services had approximately $30 million in assets under management. MFS customers will need to make no changes to their accounts or their investments. No interruptions or changes will be made. United Bank currently has more than $1 billion in assets, $103 million in capital and employs over 400 people. The Bank’s Investment and Trust Division currently has $235 million in assets under management. Jim Edwards, United Bank’s CEO, offered his comments. “We are delighted to add McIntosh Financial Services to our United Bank family. The company has a legacy of great service and devotion to the communities of Jackson and Monticello. We are excited about continuing that reputation and being a part of such a great name.’ United Bank expanded into the Butts County market in 2008 with its acquisition of First Georgia Community Bank and operates 21 bank offices in Zebulon, Barnesville, Griffin, Thomaston, Madison, Covington, Jackson and Newnan. Chartered in 1905, the bank employs over 400 employees with a strong focus on community involvement and customer relationships. ’United Bank has admired and respected the great people of McIntosh Bancshares,’ commented John Rainwater, President of United Bank. ‘We are excited about Alicia joining our team and allowing us the opportunity to continue its heritage and serve their customers.’

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