BIRMINGHAM, Ala. -- First Alabama Bancshares Inc. said it has concluded a special 30-day due-diligence period for its acquisition of Secor Bank and expects to proceed with the acquisition.

The deal remains subject to approval by Secor's stockholders and various regulatory agencies, acceptance of the deal's terms by the Federal Deposit Insurance Corp. in its role as manager of the FSLIC Resolution Fund, and receipt of a favorable tax opinion.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.