BIRMINGHAM, Ala. - Amsouth Bancorp. said it signed a definitive agreement to acquire Floridabank, a thrift based in Jacksonville, Fla., for stock with an indicated value of $27.1 million.

Amsouth said it will exchange 0.4902 share of common stock for each share of FloridaBank, which has $272 million of assets and seven branches.

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.