BankFirst to buy FNB Bancshares in Alabama
BankFirst Capital in Columbus, Miss., has agreed to buy FNB Bancshares of Central Alabama in Tuscaloosa.
The $974 million-asset BankFirst said in a press release Thursday that it expects to complete its purchase of the $273 million-asset FNB in the first quarter. The price was not disclosed.
“This merger will allow us to build upon and further strengthen our shared beliefs, community focus and commitment to service excellence,” Moak Griffin, BankFirst’s president and CEO, said in the release.
“In addition, this merger supports our strategic intention of partnering with organizations that have strong core deposit funding, solid commercial banking and credit practices and a long tradition of superior community and customer service," Griffin added.
Once the deal is completed, BankFirst will have 22 branches in Mississippi and Alabama.
BankFirst was advised by FIG Partners and Hunton Andrews Kurth. FNB Bancshares was advised by Porter White Capital and Jones Walker.