Alamogordo Financial Corp. (ALMG) in Alamogordo, N.M., has agreed to pay more money to purchase Bank 1440 (BFFO) in Phoenix.

Alamogordo, the holding company of BANK'34, will pay roughly $8 million in cash and stock for Bank 1440, the companies said in a joint Wednesday press release. The deal was originally valued at $7.3 million when it was first announced in June.

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