AmSouth Bancorp has finally cleared the last hurdle before acquiring a large Florida thrift, but not before having to sweeten the deal.

AmSouth, which is based in Birmingham, Ala., announced last Sept. 13 its plans to acquire Clearwater-based Fortune Bancorp for $285 million, or 1.63 times the thrift's tangible book value. By last Thursday, when AmSouth finally ended the pricing period, the value of the deal -- scheduled to close next week -- had increased to $287 million, or 1.71 times book.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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