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November 10, 2007

C.J. "Jody" Lail Jr. named bank president

ALBANY, Ga.--(BUSINESS WIRE)--Heritage Financial Group (NASDAQ:HBOS), the mid-tier holding company for HeritageBank of the South, today announced that it intends to invest in Chattahoochee Bank of Georgia, a new bank being organized in Gainesville, Georgia. The investment is expected to be up to approximately $3 million, which would give Heritage Financial Group an ownership position of slightly less than 15%. Leonard Dorminey, President and Chief Executive Officer of the Company, is expected to serve as a director of the newly formed bank.

Chattahoochee Bank of Georgia, to be headquartered in downtown Gainesville, will target small- to medium-size business owners and professionals in Hall County – an expanding medical center for Northeast Georgia – and also will serve customers in northern Gwinnett County. The bank envisions a second location in Gwinnett County within three to five years, depending on its growth there.

Leading the bank's operations will be President C. J. "Jody" Lail, Jr., who has 19 years of banking experience, including 12 years in this market. He most recently served as Senior Vice President in charge of all revenue production for Quantum National Bank, a $300 million community bank in northern Gwinnett County. Prior to that Lail was with SunTrust Bank in Gainesville.

-- BusienssWire news release