COLUMBUS, Ga. -- Synovus Financial Corp. has acquired the deposits of Birmingham Federal Savings Bank.
The Birmingham Federal offices in Vestavia and Roebuck will operate as full-service banking centers of First Commercial Bank, Synovus said.
At June 30, Birmingham Federal had deposits of about $49 million. With the assumption of Birmingham Federal's deposits, First Commercial Bank's assets will exceed $400 million. First Commercial Bank's now has nine locations in Birmingham.
Should the all-stock transaction close as planned later this year, Wintrust Financial in the Chicago area would gain about $2.7 billion of assets.
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