ALLIED BANKSHARES SELLS DATA PROCESSING SUBSIDIARY
ALLIED BANKSHARES SELLS DATA PROCESSING SUBSIDIARY THOMSON, Ga., June 1 /PRNewswire/ -- Allied Bankshares, Inc.
(OTC: ABGA) announced today that the company had sold its bank data processing subsidiary, Databank South, Inc., to Florida Informanagement Systems, Inc. (FIS), a data processing company located in Orlando, Fla.
The terms of the transaction were not disclosed. Boone A. Knox, chairman and chief executive officer, was also elected a director of FIS. Knox stated that the three banks owned by Allied will continue to receive data processing services from Databank which has become a subsidiary of FIS. Databank South, Inc. is the third-largest bank data processor in Georgia and will continue to operate out of Thomson. -0- 6/1/92 /CONTACT: Ben O. Howell Jr., chief financial officer of Allied Bankshares, 706-595-1142/ (ABGA) CO: Allied Bankshares, Inc.; Florida Informanagement Systems, Inc.; Databank South, Inc. ST: Georgia IN: FIN SU: TNM
BN-EA -- AT014 -- 5921 06/01/92 17:14 EDT
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|Date:||Jun 1, 1992|
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