In Brief: Tenn. Company in $5.1M Florida Bank Deal

Tennessee's Independent Southern Bancshares has a deal to buy First Western Bank, Cooper City, Fla., for $5.1 million in cash.

Independent Southern is the parent of Insouth Bank, a $650 million-asset institution based in Brownsville. Though this is the holding company's first bank deal outside the Volunteer State, the bank operates commercial and residential loan production offices in Florida, Texas, California, Georgia, and North Carolina.

First Western, with $38 million of assets and four branches, would keep its name and management after the deal's closing, which is expected early next year.