Exhibit 99


             HeritageBank of the South Names New Director


    ALBANY, Ga.--(BUSINESS WIRE)--March 23, 2007--Heritage Financial
Group (NASDAQ: HBOS), the mid-tier holding company for HeritageBank of
the South, today announced that the Bank has named Fred F. Sharpe to
serve on the Bank's Board.

    Sharpe, a native of Dublin, Georgia, has lived in Albany for the
past 29 years. Currently, he is the owner of U-Save-It Pharmacy, Inc.,
with 12 locations in Georgia. He also is President of PIC Properties
Inc., a real estate development company associated with Pharmacy
Investment Coordinators Inc., which does business as Buy Rite Drugs
and operates a number of locations in Florida, Alabama, and Georgia.
Sharpe also is vice president and co-owner of McCook Pharmacy in
Statesboro, Georgia, and owner of The Corner Cafe in Albany.

    Commenting on the Bank's announcement, Leonard Dorminey, President
and Chief Executive Officer of Heritage Financial Group and Chief
Executive Officer of HeritageBank of the South, said, "We are pleased
that Fred Sharpe has agreed to join our Bank's Board of Directors. He
has a deep understanding of and appreciation for the communities we
serve, which will help us enhance our level of service we provide to
our customers. Fred also is driven by a strong entrepreneurial spirit
that has honed skills and perspectives that will be important to the
Bank's leadership as we plan for future growth."

    Sharpe graduated from the University of Georgia, School of
Pharmacy, and served 18 months in the United States Army. He is a
member and past district president of the Georgia Pharmacy Association
and member of the board of directors of the Academy of Independent
Pharmacists. He is also a member of the Albany Rotary Club and serves
on the board of the Anchorage and the Albany Chamber of Commerce. He
is married to the former Bonnie Bullock of Albany and together they
have three sons: Jay, Tommy and Robert.

    Heritage Financial Group is the mid-tier holding company for
HeritageBank of the South, a community-oriented bank serving primarily
Albany, Georgia, and surrounding Dougherty, Lee and Worth counties in
Georgia through six full-service banking offices. HeritageBank also
commenced operations in the State of Florida during the third quarter
of 2006 with the opening of a full-service banking office in Ocala.

    As of December 31, 2006, Heritage Financial Group reported total
assets of approximately $413 million and total stockholders' equity of
approximately $63 million. For more information about the Company,
visit HeritageBank of the South on the Web at www.eheritagebank.com,
and see Investor Relations under About Us.

    Heritage, MHC, a mutual holding company formed in 2002, holds
approximately 72% of the shares of Heritage Financial Group. The
remaining 28% of Heritage Financial Group's shares are held by public
stockholders following the Company's June 2005 initial public
offering.

    Except for historical information contained herein, the matters
included in this news release and other information in the Company's
filings with the Securities and Exchange Commission may contain
certain "forward-looking statements," within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. We intend such
forward-looking statements to be covered by the safe harbor provisions
for forward-looking statements contained in the Private Securities
Reform Act of 1995 and include this statement for purposes of these
safe harbor provisions. Further information concerning the Company and
its business, including additional factors that could materially
affect our financial results, is included in our other filings with
the SEC.


    CONTACT: Heritage Financial Group
             T. Heath Fountain, 229-878-3370
             Senior Vice President
             and Chief Financial Officer