In a move that is likely to quadruple its assets in Georgia, Alabama- based Regions Financial Corp. said Monday that it would acquire First National Bancorp of Gainesville for $647 million in stock.

The price equals 2.13 times First National's book value.

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.