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SunBanks makes acquisition

Published Oct. 6, 2005

SunBanks Inc. announced Monday that it had completed the $65.1-million acquisition of Regional Investment Corp., the parent of Tallahassee-based Andrew Jackson Savings Bank. SunBanks Inc. is the parent of Brooksville-based SunBank and Trust Co. Andrew Jackson's Weeki Wachee branch in Hernando and its New Port Richey branch in Pasco will remain open under the SunBank name, while its Citrus County branch will combine with the Beverly Hills SunBank. The Weeki Wachee branch will receive a night deposit drop next month, said Jim Kimbrough, SunBank and Trust Co. president. The merger gives SunBank and Trust 27 offices in Citrus, Hernando and Pasco counties, with total assets of about $1.1-billion.