LITTLE ROCK, Ark. -- First Commercial Corp. said it completed a definitive agreement to acquire First City Inc., parent of First City National Bank of Memphis, for $6.1 million in stock.

Arkansas-based First Commercial said it has agreed to exchange 212,517 of its common shares for all outstanding shares of First City, which has assets of $39.6 million, deposits of $34.6 million, and equity capital of $4.6 million.

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.