CLEARWATER, Fla. -- Fortune Bank has merged into AmSouth Bank of Florida.
The deal brought the acquirer's assets to $6.5 billion and those of its Alabama parent, AmSouth Bancorp., to $17 billion.
All 46 Fortune Bank offices took on the AmSouth name, but due to the proximity of some, 18 Fortune or AmSouth branches will be consolidated on July 21. After that date, AmSouth customers will have 69 branch locations on the west coast of Florida.
AmSouth Bancorp. said it would issue 4.47 million shares, worth about $150 million, and pay $144.7 million cash to complete the purchase.