The sale of the branch to an in-market competitor will be less disruptive to the community than closing the branch. Four financially sound institutions will remain in the RGM and it is believed that the competitive conditions will not be significantly reduced. The proposed transaction will also allow Community to proceed with the planned expansion of its Clarkesville operations. The post-merger HHI for the proposed transaction is reflective of general market conditions within the State of Georgia. After giving consideration to the factors cited above, the Board of Directors is of the opinion that the proposed transaction will not substantially lessen competition, tend to create a monopoly, or in any other manner restrain trade or otherwise have an adverse competitive impact that would require disapproval under the Bank Merger Act.
Future prospects appear favorable.
The scope and convenience of banking services offered to the general public should not be significantly affected by the proposal. Likewise, there are banking alternatives available in several contiguous counties that currently provide business opportunities and retail services to Habersham County residents. Community will provide the same services offered by Suntrust. Community plans to retain all the Suntrust Clarkesville branch employees in order to expand customer service. Community's close proximity to the Suntrust branch will largely eliminate any inconvenience the customers from the closed branch may experience by having to access their accounts at the new location.