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CertusBank receives regulatory approval to purchase Quadrant Financial

US-based CertusBank has received regulatory approval to acquire Quadrant Financial, which was originally proposed and agreed in October 2012.

Following completion of the transaction, the acquired entity will continue to operate from their existing locations, under the supervision of John Handmaker and George Vredeveld Jr.

CertusBank co-CEO Walter Davis said, "It positions us perfectly to expand our small to mid-size business platform in the southeast, especially in our headquartered state of South Carolina.

Headquartered in Greenville, CertusBank operates as a subsidiary of CertusHoldings, and has $1.8bn in assets manages 33 branches in the Carolinas, Florida, and Georgia.

Founded in 2001, Quadrant Financial initially started its operations as a mortgage brokerage and mortgage banking firm, and in 2006 it became a subsidiary of First Chatham Bank.

It has originated in more than $750m in loans to assist small businesses across the US.