In Brief: Ala.'s Compass Buys Dallas-Based Fidelity

Compass Bancshares said Monday it has completed the purchase of Fidelity Resources Co., a $335 million-asset banking company based in Dallas.

The deal, unveiled in October, was valued at about $70 million.

Fidelity Resources' lead bank, Fidelity Bank, has 13 offices in Dallas, with $306 million of deposits.

The acquisition boosts Compass' deposit base in the Dallas-Fort Worth area by more than 20% and increases its offices there to 38.

Compass, a $13.5 billion-asset banking company, has more than $5.9 billion of assets and 116 locations in Texas. It also operates in Alabama and Florida.

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