LITTLE ROCK -- First Commercial Corp. agreed Thursday to buy Kilgore First Bancorp Inc., Kilgore, Tex., for $14.6 million cash, or 1.37 times book value.

With $133 million of assets, $61 million in loans and $122 million in deposits, Kilgore First National Bank will be First Commercial's 12th bank in the Southwest Arkansas-East Texas market, pending shareholder and regulatory approvals.

Others Pending

First Commercial currently has two other mergers pending in the region: First National Bank of New Boston, and First National Bank of Palestine. Once all three mergers are completed, FCC, based in Little Rock, Ark., will have approximately $1.7 billion of assets in the region including Southwest Arkansas and East Texas.

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