Hamilton State Bancshares Inc. has entered into an investment agreement with two firms that will allow the bank to raise more than $90 million in capital.

Both Angelo, Gordon & Co. and Tailwind Capital have agreed to invest a minimum of $45.2 million each in Hamilton State common stock, which will result in each company owning 24.9 percent of the banking company.

Proceeds from the capital raising will be used to repurchase the company’s preferred stock issued to the U.S. Department of the Treasury, to contribute capital to Hamilton State Bank and to pursue the purchase of failed or distressed banks in FDIC-assisted transactions.

“We’re very pleased about the investment in our company by Angelo Gordon and Tailwind,” said Chairman and Chief Executive Officer Robert C. Oliver. “Following the investment, our management will remain in place and we will be in a much better position to pursue attractive opportunities in our core markets in Georgia.”

The agreement is subject to federal approval and other conditions.

Hamilton State Bancshares is a Georgia corporation and a registered bank holding company.

 The company specializes in providing commercial banking services to small to medium-sized businesses in North Georgia.

The company operates six full service branches: Braselton, Gainesville, Oakwood, Jefferson, Hoschton and Cumming, serving the four-county area of Jackson, Hall, Forsyth and Barrow counties.