Roundup: Regions Closes Deal For Georgia Thrift

BIRMINGHAM, Ala. - Regions Financial Corp. said it completed its acquisition of Fidelity Federal Savings Bank of Dalton, Ga.

Regions will issue about 946,000 shares of its common stock in exchange for all of Fidelity Federal's outstanding capital stock.

The exchange ratio will be 0.456 share of Regions' common stock for each share of Fidelity Federal outstanding. The Georgia thrift will operate as a separate subsidiary.

Regions Financial Corp. is a $12.8 billion-asset regional bank holding company, with 282 banking offices in Alabama, Florida, Georgia, Louisiana, and Tennessee.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER