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BANKERS FIRST TO SELL SAVANNAH BRANCHES TO LIBERTY SAVINGS BANK

 BANKERS FIRST TO SELL SAVANNAH BRANCHES TO LIBERTY SAVINGS BANK
 AUGUSTA, Ga., Sept. 2 /PRNewswire/ -- Bankers First Savings Bank, FSB, of Augusta, Ga., and Liberty Savings Banks, FSB, of Macon, Ga., announced the signing of a letter agreement providing that Liberty Savings Bank, FSB will acquire the physical assets and assume the deposits of the Savannah branch offices of Bankers First.
 At Aug. 31, the Savannah branches of Bankers First had deposits of approximately $48.0 million. Bankers First will continue to operate its Savannah mortgage banking office.
 The transaction must be approved by regulatory authorities and by the boards of directors of Bankers First and Liberty Savings Bank.
 H.M. Osteen Jr., chairman and chief executive officer of Bankers First Corporation (NASDAQ-NMS: BNKF), commented, "The sale of the Savannah operation is part of our restructuring plan to sell branch banking facilities in communities that are outside of our primary markets."
 Robert F. Hatcher, president and chief executive officer of Liberty Savings Bank, stated: "Liberty is pleased to be expanding in one of our primary markets. These branches complement our presence in Savannah and should enable Liberty to provide more convenience and better service for our customers."
 Bankers First Savings Bank, FSB is a wholly owned subsidiary of Bankers First Corporation, a financial services company principally serving the Augusta, Rossville/Chattanooga and Savannah, Ga., markets with 25 banking offices and 27 automated teller machines and three loan production offices. The company's common stock is traded on the NASDAQ National Market System using the symbol BNKF. The abbreviation found in most newspaper listings is "Bankers First."
 Liberty Savings Bank, FSB is the wholly owned subsidiary for First Liberty Financial Corp. (NASDAQ-NMS: FLFC) and operates 18 banking offices in middle, coastal and south Georgia, a loan production office in Atlanta and a mortgage banking company (Liberty Mortgage Corporation), operating throughout Georgia and through correspondent relationships in several other southeastern states. First Liberty common stock is quoted through the National Market System of the National Association of Securities Dealers (NASDAQ) under the symbol "FLFC."
 -0- 9/2/92
 /CONTACT: Glenn W. Peters, vice president and chief financial officer of Bankers First, 706-849-3235/
 (BNKF FLFC) CO: Bankers First Corporation; First Liberty Financial Corporation;
 Bankers First Savings Bank, FSB; Liberty Savings Bank, FSB ST: Georgia IN: FIN SU: TNM


BN-EA -- AT003 -- 5786 09/02/92 09:32 EDT
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Publication:PR Newswire
Date:Sep 2, 1992
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