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Already the owners of a minority stake, USAmeriBancorp Inc. has moved to increase its level of ownership of Alexander City, Ala.-based Aliant Bank. The additional investment would make it the majority owner of the bank's parent, Aliant Financial Corp.
“We are pleased to provide additional capital to Aliant, which has proven to be a valued partner for us,” said Joe Chillura, CEO of USAmeriBank, the Tampa-based bank held by USAmeriBancorp.
Chillura added that his bank's increased investment outside of the Gulf Coast will help diversify its risk portfolio.
“USAmeriBank continues to be tightly focused on the Tampa Bay market, but our holding company is also open to opportunities to grow. It makes sense for us to spread our investment risk over several geographic markets. Aliant performance is improving, and we feel they are very well positioned as the economy recovers,” Chillura told the Business Review.
USAmeriBank posted a $1.6 million first quarter net income to start 2010. The company was also featured in the Business Review in December 2009.
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