CCF Holding Company ("CCF"), Heritage Bancorporation Inc. ("HBI") and Providence Bank ("Providence") jointly announced the signing of a definitive agreement pursuant to which HBI will merge with and into CCF and a wholly-owned subsidiary of CCF will merge with and into Providence in an all-stock transaction. Following the closing of this transaction, Providence and the subsidiary banks of each of CCF and HBI will each be a wholly-owned subsidiary of CCF. The banks will maintain their existing names, executive management teams and boards of directors. This combination of three community banks under one holding company will create a growth-oriented banking franchise, with branches in Georgia and northeast Florida. Upon completion of the transaction, Leonard A. Moreland, President and Chief Executive Officer of CCF, will continue as the Chief Executive Officer of the surviving holding company, which plans to change its name to Heritage Southeast Bancorporation Inc. ("HSBI"). Brian Smith will serve as President and Chief Operating Officer of HSBI, and Brad Serff will serve as Executive Vice President of HSBI. Following the completion of the transaction, the board of directors of HSBI will consist of Kenneth R. Lehman, who is anticipated to serve as chairman, two individuals designated by each of CCF, HBI and Providence, and two additional independent directors, one of whom is anticipated to be John Presley.